EIB Global Strengthens Support for Western Balkans with €693 Million in Financing for Energy, Transport, and Economic Growth

"We are fully committed to supporting all countries in the region on their path to EU integration," remarked EIB Vice-President Robert de Groot.

In 2024, the European Investment Bank Group (EIB Global) reaffirmed its commitment to the Western Balkans by providing €693 million in loans and grants for energy security, sustainable transport, climate action, digital transformation, and human capital development. This financial package consists of €527 million in signed loans, €164 million in EU grants under the Western Balkans Investment Framework (WBIF), and €2 million in grants under the EIB’s Economic Resilience Initiative. The largest share of new financing was allocated to sustainable transport (43%), clean energy projects (31%, a record high), and the private sector (20%).

Boosting Regional Development and EU Integration

"We are fully committed to supporting all countries in the region on their path to EU integration," remarked EIB Vice-President Robert de Groot. "Achieving higher convergence requires significant reforms and investments, which is why combined financial and technical support under the Team Europe umbrella ensures continuous and extensive assistance. The latest Growth Plan exemplifies initiatives that can accelerate market integration, economic growth, and EU accession ambitions."

Investing in Energy Security and Sustainability

In the energy sector, EIB Global allocated €213 million in loans for projects aimed at boosting energy security and sustainability. Key investments include the rehabilitation of several large hydropower plants and the installation of advanced electricity meters in Serbia, as well as the construction of one of the region’s largest solar photovoltaic plants near Pristina, Kosovo. This solar facility will meet the energy needs of over 29,000 households and reduce carbon dioxide emissions by 174,000 tonnes annually.

"As the EU Climate Bank, we have intensified efforts to drive a green transition in every country in the region and remain steadfast in our commitment to decarbonizing regional economies," said Vice-President De Groot.

To further encourage green financing, the EIB launched the Greening Financial Systems (GFS) advisory program in North Macedonia and Albania. This initiative aims to improve climate risk management practices in national and local banks while stimulating green investments among businesses. Additionally, several EIB-financed projects received technical assistance through the WBIF and the Joint Assistance to Support Projects in European Regions (JASPERS). Since the renewal of its mandate in autumn 2023, JASPERS experts have provided advisory support on 32 assignments across transport, water, energy, urban, and digital sectors in the Western Balkans.

Enhancing Regional Transport Infrastructure

In 2024, EIB Global continued its strong support for sustainable transport, allocating €295 million in financing for railway rehabilitation projects in Albania and Montenegro. These investments will enhance railway capacity, efficiency, and safety along the extended Trans-European Transport Network (TEN-T), promoting a shift from road-based transport to more sustainable rail travel. The bank also signed a €79 million EU grant to support the construction of a section on Corridor Vc in Bosnia and Herzegovina, further improving connectivity and economic integration.

Fostering Economic Growth and Job Creation

To drive employment and business development, the EIB invested €151 million to expand innovation and clean energy projects among local companies. This financing has facilitated job creation, training, and career development opportunities, particularly for individuals from vulnerable groups.

Additionally, under the EU’s "WB EDIF Guarantee Facility for SME Resilience," the European Investment Fund (part of the EIB Group) provided guarantees to local banks, unlocking an estimated €750 million in loans for approximately 13,000 small businesses. This initiative is expected to sustain around 180,000 jobs in the region, reinforcing economic resilience and stability.

The European Investment Bank Group remains dedicated to accelerating regional development and EU integration through sustainable investments, economic cooperation, and infrastructure modernization. With its ongoing efforts, EIB Global continues to play a pivotal role in shaping the future of the Western Balkans.