EU support to Western Balkans for COVID-19 recovery
The European Commission has announced that over €3.3 billion of the EU financial support fund will be mobilised jointly with the European Investment Bank to the benefit of the Western Balkans' citizens. It aims to address the immediate health and resulting humanitarian needs of the COVID-19 pandemic as well as help with the social and economic recovery.
The package includes reallocations from the Instrument for Pre-Accession Assistance of €38 million for immediate support for the health sector, in particular through delivering essential supplies to save lives, such as personal protective equipment, masks and ventilators. Additionally, €389 million of the package will be dedicated to addressing social and economic recovery needs and €455 million will be an economic reactivation package. It also includes a proposal for €750 million of Macro-Financial Assistance and €1.7 billion package of assistance from the European Investment Bank. The European Commission is in its contribution ahead of the EU-Western Balkans' leaders meeting planned for the 6th of May 2020, to outline the broad parameters of long-term support to be presented later this year in the form of an Economic and Investment Plan for the region.
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