The economic package will be given to the countries of the Western Balkans to deal with part of the consequences of the energy crisis
European support of one billion euros to tackle the energy crisis in the Western Balkan countries, they announced today the President of the European Commission, Ursula von der Leyen and the High Representative of the EU, Josep Borrell.
During the Western Balkans Summit, in the framework of the Berlin Process, the President of the Commission announced that the energy support package of one billion euros will be given in the form of grants from the EU to the countries of the Western Balkans to help them to face the immediate consequences of the energy crisis and for energy investments in the medium term.
“The EU continues to stand behind the Western Balkans – both in good times and in times of trouble. During the COVID-19 pandemic, we mobilized an unprecedented €3.3 billion package for the region and today a €1 billion energy support package to protect the most vulnerable groups and boost much-needed investment in energy diversification” said Ursula von der Leyen. He also emphasized that the EU is investing in the economic fabric of the region to advance the transition to clean energy.
In particular, in the immediate future, Commission is ready to provide €500 million in fiscal support, which will be approved in December and available in January. This amount will support households and small and medium-sized businesses to mitigate energy price increases and their impact.
In the short and medium term, the Commission will provide a further €500 million to promote energy diversification, renewable energy generation and gas and electricity interconnections through the Investment Framework for Western Balkans. Short-term measures (the next 1-2 years) will support the diversification of energy supply, strengthening gas and electricity interconnections, including LNG, as well as supporting the construction of renewable energy projects and energy efficiency measures. Medium-term aid (the next 2-3 years) will include other investments that contribute to the energy transition and security. These measures will cover large-scale renewable energy projects, upgrading of energy transmission systems, district heating and energy efficiency programs for old apartment buildings.
In addition, with a declaration on cooperation on energy security, the leaders committed to redouble their efforts to implement the Green Agenda for the Western Balkans, in line with the EU Green Deal. According to the Commission, this cooperation will contribute to greater energy diversification and cleaner energy, as well as accelerating reforms in their national energy markets to align with the EU.
RES-EMP
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