The Western Balkans will benefit from a new European Investment Bank initiative (Bei Global), which aims to accelerate the steady growth of the private sector in the region.
The Green Innovation and Innovation Instrument (IGTF) is a new initiative that supports EU economic and investment plan and the new growth plan for the Western Balkans, strengthening the integration of the six countries in the green and digital agenda of the European Union.
This instrument will combine 170 million euros in the form of loans and 17 million euros in the form of grants, allocated to the Western Balkans Investment Framework (WBIF).
The goal is to support micro, small and medium -sized enterprises, as well as those with medium capitalization, to advance in the areas of digitalization, innovation and green transitions.
Funding will be distributed through trade banks and local financial institutions, focusing on investment in cyber security, product development, sustainable agriculture, ecological tourism and stability to climate change.
In addition to financial support, IGTF will also provide technical assistance to improve investment readiness and capacity building.
This support will also extend to incubators, scientific parks and research centers throughout the region, including mentoring, training and staff exchanges to promote innovation ecosystems.
With this program, the European Investment Bank (EUI) says it aims to empower local businesses, increase their competitiveness and promote inclusive and sustainable economic growth in the Western Balkans.
