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In closecooperation with the European Commission, the EIB has signedfinancing packages worth over 1.5 billion euros to modernizerailway sections in Serbia, North Macedonia, Montenegro, andAlbania, said Damien Sorrell, EIB Head of the Regional Hub for theWestern Balkans, in an interview with . He highlighted the bank's substantial investment in themodernization of key infrastructure in the region.
"We are also financing the rehabilitation of road infrastructurein Serbia and the improvement of inland waterway navigation alongthe Rivers Sava and Danube," Sorrell explained. He noted that theseprojects are part of the EU’s broader strategy to enhanceconnectivity across the Western Balkans. The EIB’s largest transportation project in the region, however,is the construction of the motorway along Corridor Vc in Bosnia andHerzegovina.
"So far, we have committed over 1 billion euros intonew sections, complemented by EBRD loans and over 800 million eurosin EU grants," said Sorrell. "This project will significantlyimprove regional connectivity while enhancing road safety andeconomic growth". In the energy sector, the EIB is focusing on both new andexisting projects to boost renewable energy production andmodernize infrastructure.
"Alongside financing new renewable energyprojects, we are supporting the modernization of existingfacilities to enhance their efficiency, reliability, and capacity,"Sorrell stated. He also emphasized the bank’s commitment to a justtransition away from coal, particularly in regions heavily relianton the industry. "We aim to ensure positive socio-economic outcomesfor the workforce, economy, and environment," he added.
The EIB’s priorities in the Western Balkans are in fullalignment with the EU’s goals, the bank's representative noted. "Inthe Western Balkans, the bank’s focus is on supportingconnectivity, renewable energy capacities, climate resilience,private sector, and human capital development," he explained. Theseinitiatives are in line with the EU Growth Plan, which seeks tostrengthen regional market integration as a key condition forjoining the EU single market.
As an EU institution, the EIB is guided by EU policies andstrategies in all its activities. "Through the projects we finance,we help the region align with EU standards, demonstrating ourunwavering support for past enlargement waves and the currentmomentum towards accession," said Sorrell. He added that the bank’sregional hub in Belgrade, along with local offices in Sarajevo,Tirana, and Skopje, provides crucial support to partners on theground.
"I am delighted to see the region's progress under the TeamEurope approach and in fruitful collaboration with all ourinternational and local partners," Sorrell concluded, reflecting onthe successful partnerships that have been key to the region’sdevelopment..
