New investments have been given the green light at the 4th Operational Board of the Western Balkans Investment Framework (WBIF). Members of this Board gave a positive opinion in Oslo, Norway, for new investments in transportation, energy, environment, human capital, and support for the private sector in the Western Balkans, totaling 2.1 billion euros.
Support with investment grants was approved for Albania for the project "Green Transport in the city of Tirana," aiming to meet a significant portion of the capital's growing demand for mobility through sustainable, green, safe, comfortable, and accessible public transportation. The grant, which will be provided by the EU for this project, amounts to 31.7 million euros, approximately 30% of the total project cost of 110.3 million euros.
In addition to investment projects, three project proposals for technical assistance were also approved, which are as follows:
1.Construction of a new 400kV interconnection line Albania (Fier) - Greece (Araktos), with a grant of 1.1 million euros.
2.Construction of offshore wind farms, with a grant of 2 million euros.
3.Integrated National Drinking Water Strategy and Investment Planning, with a grant of 1.2 million euros.
More than 100 representatives from 27 EU member states were present at the Oslo event. The Economic and Investment Plan for the Western Balkans aims to promote long-term recovery and foster regional cooperation and convergence with the EU. This plan will mobilize an additional 20 billion euros in investments.
Meanwhile, the Western Balkans Investment Framework (WBIF) aims to enhance cooperation for investments in the public and private sectors for the socio-economic development of the region and contribute to the European integration of the Western Balkans. This investment framework is the primary financial mechanism for implementing the ambitious Economic and Investment Plan of the EU for the policy priorities of the Western Balkans and major investments.
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