EU Financing Facility for Western Balkans to Target SMEs, Climate Change Schemes in 2011

A European Union initiative aimed at improving the coordination of investments in the Western Balkans will focus on small and medium-sized enterprises and climate change initiatives in 2011.

The Western Balkans Investment Framework, launched by the European Commission, European Investment Bank, European Bank for Reconstruction and Development, and Council of Europe Development Bank in 2009, targeted infrastructure projects in 2010 with some €6 billion ($8.4 billion) in funding.

For 2011, the facility has already received more than 40 applications for financing.

A steering committee, co-chaired by the European Commission and a donor country, convenes twice a year to decide which projects to finance. The committee’s next meeting will be held in Oslo, Norway, on June 23-24, where the Norwegian government will serve as co-chair.

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About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.