$1.5 billion invested by EBRD in Western Balkan countries

The European Bank for Reconstruction and Development (EBRD) had invested 1.3 billion euros in the Western Balkans in 2020. Pierre Heilbronn, an EBRD vice president, said that this year also the same amount will be continued. Heilbronn told that 2020 was an unusual year because of the pandemic. And that prompted the bank to invest in its earlier agreed projects. And also, to support policy changes in the six Western Balkan countries.

The bank has supported Albania, Bosnia, Kosovo, Macedonia, Montenegro and Serbia for over three decades. These are all hoping to join the European Union to meet EU standards. Infrastructure investment remains a priority. The bank is more involved in helping the region said Heilbronn. This is for the transition towards the green energy, that is coal producing energy. He warned that public money would not be enough. His visit over there is mainly for trying to push green agenda. This was stated by Heilbronn, in Sarajevo on a farewell visit. He said small-and-medium-sized companies were a key engine of regional growth.

Heilbronn said that the connectivity, green and competitiveness are the three overarching priorities for the. Making progress in how state-owned enterprises are run would open up interest of foreign investors, who were not involved in the region. When investment did not meet sustainability criteria the EBRD was concerned. The jobs were also not available.