The main recipients of aid are the Balkan countries, as well as Turkey. The deal has yet to be approved by Parliament and the European Council.
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The European institutions announced Wednesday, June 2 a “political agreement“from a budget of 14.16 billion euros intended to help the candidate countries for membership, including Turkey, over the period 2021-2027. The political agreement has yet to be translated into legal texts and formally approved by the EU Parliament and the European Council.
“This long-awaited agreement on our ambitious financial aid is a positive, welcome and strong signal for the Western Balkans and Turkey“, said Commissioner for Neighborhood Policy and Enlargement Olivér Várhelyi. “It will finance the economic and investment plan for the Western Balkans, an essential tool to support the economic recovery of this priority region.”
Pleased that we have a political agreement on € 14.2 bn Instrument for Pre-accession Assistance for 2021-2027 #EUbudget period. Among others #IPAIII will provide funding for Economic & Investment Plan for #WesternBalkans, key tool to underpin region’s postCOVID19 economic recovery. pic.twitter.com/rgqlTlP3DP
– Oliver Varhelyi (@OliverVarhelyi) June 2, 2021
The beneficiaries are Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia and Turkey. The distribution of funds is based on thematic priorities, and not on envelopes by country. “This helps reward performance and progress in achieving key priorities and increases flexibility to respond to the evolving needs of partners on the path to membership.”, specified the Commission.