Home Venture Capital EU allocates 2.1 billion euros for energy, transport and environment projects in the Western Balkans

EU allocates 2.1 billion euros for energy, transport and environment projects in the Western Balkans

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The European Commission has launched a new financial envelope of €2.1 billion to support 14 flagship investment projects in the areas of transport, energy, environment, human capital and the private sector in Western Balkans.

This is the fifth investment program under the EU Investment Program. Economic and investment plan for the Western Balkans of 9 billion euros in subsidies, aiming to mobilize a total of 30 billion euros. The plan was announced in October 2020.

Of the 14 new projects, eight are related to the energy sector, energy efficiency measures, water system and green transport, according to the European Commission.

The €2.1 billion investment program includes €528 million in EU grants under the Instrument for Pre-Accession Assistance (IPA III), additional bilateral contributions from EU Member States. EU and Norway, loans from international financial institutions and contributions from the economies of Western countries. Balkans.

Green transport in Tirana

Western Balkans eu investment plan wbif

The Green Transport Tirana project will create the city’s first electric bus rapid transit (e-BRT) system to combat high levels of air pollution and traffic congestion. The e-BRT system will rely on battery-electric buses with a smart charging strategy.

The project is estimated at 111.3 million euros, while the grant is 32.1 million euros.

The funds will be used for two projects in Bosnia and Herzegovina.

The Sarajevo Water Project (€32.2 million; €2.6 million grant) aims to reduce water losses by replacing or rehabilitating aging pipes, pumping stations and wells , adding or improving around 4,000 new domestic connections, according to the European Commission. It also aims to improve the overall efficiency of water supply in Sarajevo Canton.

The second is the rehabilitation of the Čapljina pumped-storage hydroelectric power station. Its role is essential to increase the share of renewable energies and reduce carbon emissions.

The project will rehabilitate Čapljina’s equipment, ensuring production and pumping potential for another 15 years of operation, the commission said. said.

The value of the project is 18.9 million euros, with a grant of 3.1 million euros.

Strengthening the electricity network in North Macedonia

Western Balkans EU investment plan WBIF grant

North Macedonia received money to invest in the electricity grid and energy efficiency.

The transport network in the south-eastern region of the country will be strengthened to enable the integration of renewable energy sources.

The project, valued at €34.7 million (€8 million grant), includes the construction of a substation and new connections, the reconstruction of overhead lines and the installation of transmission lines and of transformers.

The public sector energy efficiency project addresses the country’s reliance on inefficient coal-fired power generation and high energy consumption.

It focuses on energy efficiency in public buildings, with the aim of making savings, reducing CO2 emissions and creating an Energy Efficiency Fund. Secondary loans and grants are provided to municipalities for cost-effective renovations, the commission said.

The project is estimated at 27.5 million euros, including 2.2 million euros in grants.

Energy-efficient campus in Belgrade

Western Balkans eu investment plan wbif grants

Serbia received funds for the modernization of the Bistrica hydroelectric plant and for energy efficiency measures.

The rehabilitation of the Bistrica hydroelectric plant will cost 40.9 million euros, including 7.7 million euros in subsidies.

A project titled Energy Efficiency Improvement and Integrated Energy Management of Belgrade Technical Faculties Campus will result in an energy-efficient campus for the city’s electrical and technical engineering faculties.

This investment will ensure the construction of a new university center of 30,000 m2 and the renovation of existing buildings of 93,000 m2. It will benefit around 15,000 students and 1,750 staff, the commission said.

The six Western Balkan countries will benefit from the Promoting Green Loans in the Western Balkans (II) project

The project is estimated at 169.6 million euros, with a grant of 21.5 million euros.

The six Western Balkan countries will benefit from the Promoting Green Loans in the Western Balkans (II) project, implemented by the Green Growth Fund (GGF).

Proceeds from the capital increase will expand the financing offering for renewable and efficient energy measures in the region and contribute to the reduction of energy consumption and greenhouse gas emissions among end borrowers.

The investments are estimated at 231 million euros, while the subsidy is 24 million euros.

Várhelyi: We need to roll out these projects as quickly as possible

According to the commission, the projects were prepared in close cooperation with Western Balkan partners and international financial institutions in order to accelerate the region’s European perspective.

As a result of the new investment program, a total of 54 flagship investments of the Economic and Investment Plan are supported by the Western Balkans Investment Framework (WBIF), worth around 8 billion euros, including 2.3 billion euros in EU subsidies.

The WBIF is the main financial instrument for the implementation of the EU’s ambitious economic and investment plan for the Western Balkans.

The European Commissioner for Neighborhood and Enlargement, Olivér Várhelyi, said that with this new investment programme, the EU is sending a strong and clear message to its partners in the Western Balkans: their future is within the The EU and we are making steady progress to narrow the economic development gap. .

“Now I call on our Western Balkan partners and international financial institutions to deploy these projects as soon as possible so that citizens and businesses in the region can reap the benefits of these investments,” he added.

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