Investments of EIB Global in Western Balkans Reach EUR 824 Million in 2022 – EUR 11.2 Million in Grants Also Mobilised

The EU bank, through its arm dedicated to activities outside the European Union — EIB Global — invested EUR 824 million across the Western Balkans in 2022 to accelerate sustainable connectivity, clean environment, green transition, digitalisation and private sector growth, the Bank says in its press release.

On top of that, the Bank mobilised EUR 11.2 million in grants to initiate sustainable, urban development, energy efficiency and renewable energy projects. The lion’s share of new signatures was allocated to more sustainable, safe and efficient transportation via rail and waterway projects, amounting to 75% of total lending last year, followed by investments in small businesses, environmental protection and digitalisation.

– The EU bank has also designed innovative financial instruments, including a mix of loans, guarantees, advisory and grants, under the European Fund for Sustainable Development Plus (EFSD+), to support municipalities, power producers, corporates, small businesses and commercial banks with investments in the energy, connectivity and digital sectors.

EIB Vice-President Lilyana Pavlova, responsible for the Western Balkans, said that the EIB had reverted “to its role as a countercyclical economic policy instrument under the Team Europe initiative to help local economies recover faster and adapt infrastructure to address critical challenges going forward.”

Since 2020, the EIB has invested EUR 2.5 billion in the Western Balkans providing direct, concrete support to countries, facilitating a long-term shift to a climate-neutral, energy-secure and inclusive economy, while tackling the most immediate consequences of the crisis.

– Now, we plan to expand our involvement in the energy sector by contributing to the EUR 1 billion EU energy support package adopted in December 2022, involving renewable energy projects and the construction and upgrade of energy network and storage facilities – underlined Vice-President Pavlova.

As the EU climate bank, over 80% of the EUR 824 million signed in 2022 went to environmentally sustainable projects, thus contributing directly to climate action.

Among others, the loans’ proceeds will enable the construction of the Belgrade-Nis rail section on Corridor X in Serbia, the rehabilitation of the European Rail Route 10 and further improvements to ports and waterway infrastructure along the Sava and Danube rivers. In North Macedonia, EIB Global will provide financing for the water supply, wastewater and flood protection infrastructure in 80 municipalities. To accelerate digitalisation, additional funds have been allocated to the Connected Schools project in Serbia. Also, in Kosovo, EIB Global is helping with the improvement of higher education infrastructure and standards.

On top of its financing, the Bank provided EUR 11.2 million in grants for the preparation and implementation of new projects. In Bosnia and Herzegovina, EIB Global’s technical assistance will enable the construction of a 50 MW windfarm in the Travnik region, speeding up the transition to renewable and secure energy resources.

In Albania, the Bank supports the preparation of a social housing project in the country’s capital, as well as the development of investment plans for the counties of Shkoder and Lezhe to help improve connectivity, environmental quality and the tourism sector.

Evropska investiciona banka EIB

EIB

European Investment Bank

EIB Global

Lilyana Pavlova

EIB investments in Western Balkans

EIB grants

construction of Belgrade Niš railroad

rail corridor 10

construction of wind farm near Travnik

Connected Schools project

guarantee line for SMEs resiliency

loans for SMEs

female entrepreneurship

EU climate bank