European Union countries have approved a $6.45 billion plan to assist Western Balkan states in accelerating reforms and economic growth with the aim of EU membership.
EU countries approved a plan worth $6.45 billion to support Western Balkan states on Tuesday aimed at accelerating reforms and economic growth in the region, as they seek future membership in the bloc. The Council of the European Union said the plan, which covers the period from 2024 to 2027, is expected to provide up to $2.15 billion and $4.3 billion in loans. Aid is contingent on reforms that would bring Western Balkan economies in line with EU rules.
The region’s six countries — Albania, Bosnia, Kosovo, Montenegro, North Macedonia and Serbia — are at different stages in their applications for membership, but residents have been frustrated with the slow pace of the process. Croatia was the last country to be accepted by the EU in 2013. The six countries pledged to adapt customs regulations and create joint border crossings like EU member countries.
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