site.btaEU Approves Extra EUR 1.2 Bln for Western Balkans

The European Union approved EUR 1.2 billion in additional funding within the Western Balkans Investment Framework (WBIF) to upgrade the region's railway infrastructure and water management, the Croatian division of N1 television reported on August 7.

The money is intended primarily for a railway system upgrade to raise train speeds in Serbia and for water management and necessary infrastructure development in Bosnia-Herzegovina and Montenegro, according to information posted on the WBIF website.

This year, the initiative will support eight projects in water supply, sewerage and wastewater management as well as railway transport, including green transformation of small and medium sized enterprises.

The WBIF is financed mainly by the EU through contributions from the EU member states, Norway and international financial institutions.

The EU has so far approved EUR 17.5 billion worth of programmes for the Western Balkans under the Economic and Investment Plan, including EUR 5.4 billion in grants.

The WBIF is a common financial platform launched 15 years ago, bringing together the European Commission, finance organizations, the EU member states and Norway to improve cooperation in the field of investments in the public and private sectors.