Denada Jushi
The Sixth Western Balkans and European Union Forum was held in Albania for 2 days, October 13 and 14, with the focus on investments in these countries, with the aim of directly impacting the economy and bringing these countries closer to the EU. This moment is strategic and extremely important for the integration of the region with the EU through attracting foreign investments with the aim of consolidating and stabilizing the economy, placing the Balkans more clearly on the map of European development and restoring confidence that the path towards the Union is becoming more tangible than ever.
According to EU President Ursula Von der Leyen, the integration of the countries of the region means improving the daily life of each citizen. She brought as an example banking transactions: from Brussels to Tirana it used to take 3 to 4 days and cost 50 euros, while today it is done instantly and there is no fee, making the citizen equal to other European countries.
"The fees were 6 times higher, SEPA membership will save foreign companies nearly 500 million euros per year."
The two sectors where President Von der Leyen focused were Artificial Intelligence and Clean Energy, sectors that have been at the epicenter of the Albanian government's high-profile initiatives in recent years. However, Von der Leyen stated that the EU will launch the construction of two Artificial Intelligence factories, one in Serbia and the other in North Macedonia, making the Union's infrastructure available to countries in the region.
Green energy production is also an important component that was discussed at this forum. To understand the importance of this topic, the President recalled the huge energy bills after the Ukraine-Russia war. The production of clean energy will bring independence and above all low costs, making the transition to a green economy not only possible, but also favorable for citizens.
One of the agreements that Albania benefited from at this meeting was the signing of the “Titan Cement Group – Waste-to-Fuel and Waste-to-Heat Recovery Projects in Albania”, which essentially aims to reduce the consequences of the cement industry, which is one of the most polluting industries in the world. The energy that would cause harm to the environment is collected and turned into electricity or heat.
Albania was one of the first countries in the region to benefit from the Growth Fund, which is expected to provide nearly 6 billion euros to countries in the region from 2024 to 2027.
So far, Albania has benefited from 64,5 million euros in two categories: support for reforms and investments in infrastructure.
34,5 million euros are in the process of being implemented to improve or expand transport, energy and social networks. While 30 million will be used in the form of a loan to support the reforms that the Albanian government has undertaken in the framework of integration into the European Union, a clear signal that the country is being seen as a serious partner and ready to embrace EU standards.
Furthermore, other countries such as Serbia, which is also the largest economy in the region, have benefited through the investment framework or soft loans in transport, energy, and digitalization.
When it comes to Kosovo, as one of the region's newest economies, this benefit is still in its early stages. It has relied on basic projects like roads and energy, sectors where there are still major problems.
Quite often, countries in the region are penalized by domestic politics and continuous blockades to benefit from the Growth Fund, as in the case of Kosovo specifically.
The European Union aims to distribute seven percent of its funds growth plan for all Western Balkan partners that adopt Reform Agendas, as a down payment. This financial instrument, covering the period 2024–2027, has a value of six billion euros and is designed to double the region's economic growth over the next ten years.
Of this amount, two billion euros will be allocated in the form of grants, while another four billion will be allocated as loans with favorable interest rates. It is estimated that Serbia will benefit from 1.58 billion euros, Bosnia and Herzegovina 969 million, Albania 922 million, Kosovo 888 million, North Macedonia 807 million and Montenegro 383.5 million euros.
Part of the two-day forum's proceedings was also Prime Minister Rama, who this time appeared optimistic and disregarded the constant criticism of the Union for the delay in integration, although he focused on the concept of waiting, calling it "Waiting for Godot..."
"New horizon for me means a place where European investments find a new pace of speed, where innovation does not find itself buried under piles of papers, and where resistance is not a slogan, but a daily need that is fulfilled by unconditional commitment to the European Union."
He reiterated the need for the region to be part of the EU so that potential can be turned into purpose, expressing his belief that the moment for a new European chapter is no longer simply an aspiration, but a process in motion.
In addition to the signing of 10 business projects, 24 potential agreements for the future were also discussed on the second day.
After Tirana, President Von der Leyen will continue meetings in all countries in the region, for bilateral meetings that focus on benefiting from the Growth Plan and attracting foreign investment. acqj.al
