As part of the Growth Plan for the Western Balkans, pre-financing amounts to 7% of the total funds for each recipient country in the region. According to diplomatic sources cited by Tanjug, Serbia has fulfilled the final formal condition for approval of these funds by the European Union, after the National Assembly ratified the Loan Agreement between the EU and Serbia on March 13, under the Instrument for Reform and Growth for the Western Balkans.
The European Commission confirmed to Tanjug that the pre-financing amount for Serbia is €101.8 million.
“To initiate reforms, countries can request up to 7% of pre-financing. Serbia has submitted its request,” said a Commission spokesperson, adding that the disbursement of pre-financing depends on the approval of the Reform Agenda, the entry into force of the credit and loan agreement, and the fulfillment of prerequisites and general conditions.
When asked about the expected timing for Serbia to receive its first payment under the Growth Plan, following the initial payments to North Macedonia and Albania, the spokesperson said that the European Commission is finalizing the procedural steps to release the pre-financing funds as soon as possible during 2025.
He also emphasized that regular disbursements are expected between the second and third quarters of this year, once certain conditions are met.
The Commission spokesperson reminded that the Growth Plan is valued at €6 billion in investments, with its foundation based on investments and reforms. The plan also provides gradual access to the EU single market, allowing the region’s citizens to benefit from early advantages of European integration.
“To date, we have five ambitious reform agendas in place, including Serbia’s. These reform agendas are supported by investments,” the spokesperson noted.
The Growth Plan for the Western Balkans is a €6 billion package to be distributed from 2024 to 2027 in the form of grants and loans with very favorable interest rates. Under this plan, Serbia is expected to have access to €1.58 billion by 2027.
Serbia, like other partners from the Western Balkans, had to develop a reform agenda to receive financial assistance from the Growth Plan.
In October of the previous year, the European Commission approved the reform agendas of five Western Balkan partners, including Serbia, opening the way for disbursements under the Instrument for Reform and Growth for the Western Balkans.
The Commission announced at that time that the five governments of the Western Balkans, through their ambitious reform agendas, committed to socio-economic and fundamental reforms to foster growth and bring the region closer to the EU within the Growth Plan from 2024 to 2027.
Bosnia and Herzegovina is the only country in the region without an approved reform agenda.
