Having fulfilled all required conditions, Serbia is set to receive the first EU fund payments under the pre-financing of the Growth Plan for the Western Balkans in the coming days, no later than the end of next week, Tanjug learned today from diplomatic sources.
Under the Growth Plan for the Western Balkans, pre-financing constitutes seven percent of the total funds allocated to each beneficiary in the region. According to Tanjug’s diplomatic sources, Serbia has met the final formal condition for the approval of these funds, with the National Assembly ratifying the Loan Agreement between the EU and Serbia under the Reform and Growth Facility for the Western Balkans on 13 March.
The European Commission told Tanjug yesterday that the amount of pre-financing for Serbia was EUR 111.8 million.
“To initiate reforms, countries can request up to seven percent in pre-financing. Serbia has submitted a request,” said the Commission spokesperson, adding that the pre-financing payment depends on the approval of the Reform Agenda, the entry into force of the loan and credit agreement, and the fulfilment of preconditions and general requirements.
Having been asked to answer when Serbia would receive its first payment from the Growth Plan, following North Macedonia and Albania’s initial payments, he explained that the European Commission is currently finalizing the necessary procedural steps to ensure the pre-financing funds are released as soon as possible in 2025.
At the same time, he stressed that the first regular payments are expected between the second and third quarters of this year, after certain conditions have been met.
The Commission spokesperson recalled that the Growth Plan is worth six billion euros in investments, and that its principle is based on investments and reforms.
He also noted that the Western Balkans Growth Plan offers gradual access to the EU single market, enabling the region’s citizens to begin enjoying the early benefits of European integration.
“To date, we have five ambitious reform agendas in place, including from Serbia. They present reform agendas, and in return, these reforms are backed by investments,” said the Commission spokesperson.
The Western Balkans Growth Plan is a package worth six billion euros, which should be distributed between 2024 and 2027 in the form of grants and loans with very favourable interest rates. Under the Growth Plan, Serbia should have a total of 1.58 billion euros available by 2027.
Like other Western Balkan partners, Serbia was required to develop a reform agenda in order to receive financial support from the Growth Plan.
In October of last year, the European Commission approved the reform agendas of five Western Balkan partners, including Serbia, clearing the way for disbursements from the Reform and Growth Facility for the Western Balkans.
At the time, the Commission announced that the five Western Balkan governments, through their ambitious reform agendas, had committed to socio-economic and fundamental reforms aimed at driving growth and approximation with the EU under the Growth Agenda for the 2024-2027 period.
Bosnia and Herzegovina is the only one in the region without approved reform agenda.
Source: Radio Television of Vojvodina
