The European Investment Bank (EIB) increased its investments in the Western Balkans region by almost 50 percent in 2020 compared to the previous year, to EUR 873 million, it was announced at the annual EIB conference.
The new EIB Vice President Liljana Pavlova, in charge for the Western Balkans, expressed at the conference, held in a virtual format, the satisfaction of this banking group increased the volume of its investments in the region and that it will not stop there and will continue to provide full support to help to overcome the covid-19 crisis, to make progress on the path to EU integration and to accelerate the much-needed transition to a green economy and digital market.
In line with the EU’s priorities for increasing connectivity, most of the EIB’s funds, EUR 531 million, were invested last year in the construction and modernization of transport infrastructure.
The EIB Group, which consists of the EIB Bank and the European Investment Fund (EIF), also placed EUR 320 million last year with local banks to support small businesses.
The EIB has also increased support for the preparation and implementation of investment projects by providing EUR 17 million in technical assistance under the Economic Resilience Initiative and the Western Balkans Investment Framework.
