Vienna: EIB confirms support for Western Balkans

The EIB Group is the leading international financier in the Western Balkans and has been operating in the region since 1977.

An EIB Group delegation, led by EIB Director General Luca Lazzaroli, participated today in the Economy Ministers Meeting under the Berlin Process in Vienna, as part of the 2018 Western Balkans Summit. The Economy Ministers Meeting was co-hosted by the UK and Austria. The meeting coincided with the start of the Austrian Presidency of the Council of the EU, which will have as a priority a credible enlargement perspective for the Western Balkans.

The Economy Ministers Meeting focused particularly on supporting digital connectivity, economic stability, and security. Furthermore, the meeting placed a strong emphasis on supporting access to finance for small enterprises and start-ups.

"From building roads and railways, to investing in digitalisation, connectivity provides the networks that enable physical and human connections both with the EU and within the region; therefore it is key for growth and competitiveness in the Western Balkans," said Director General Luca Lazzaroli in his speech. He added that the EIB Group not only supported big infrastructure projects, but also small and medium-sized enterprises (SMEs).

Since 2007, the EIB Group has signed over EUR 8bn of loans for projects in the Western Balkans. So far this year, the EIB has signed more than EUR 700m in loans for the region. In 2017, the EIB Group financed approximately 800 SMEs generating over 45 000 jobs in the region.

"SMEs are important drivers of economic growth and innovation in the Western Balkans and contribute more than 65% of value added in the region. Yet, these small businesses need more support for longer-term...