Mr Olivér Várhelyi addresses the participants of the Western Balkans Investment Framework (WBIF) Strategic Board Meeting in London, via video message

Western Balkans Investment Framework (WBIF)

Ladies and Gentlemen,

It is my pleasure to address you today during the opening of the Strategic Board Meeting for the Western Balkans Investment Framework.

I want to extend a warm welcome to the Strategic Board members and all the observers.

I would also like to welcome András Wittek on the first day of his office as he is representing the Hungarian Presidency of the Council.

Isten hozta! Sok sikert kívánok!

Ladies and Gentlemen,

Today, as we convene for the Strategic Board Meeting, we not only set the course for the future but also celebrate a significant milestone:

the 15th anniversary of the Western Balkans Investment Framework.

These 15 years are a True testament to our enduring commitment and the remarkable achievements we have made together.

The Western Balkans Investment Framework provides the essential foundation for implementing our 30 billion euros Economic and Investment Plan. Together, we have endorsed 60 much-needed projects in transport, energy, environment and climate, digital infrastructures, human capital development, and business sector support around the Western Balkans.

Since 2020, we have already invested EUR 9 billion in cooperation with the bilateral donors and financial partner organizations of the WBIF.

With your help, we can connect towns and villages with roads and railways, businesses, schools, and hospitals with electricity and digital cables.

To give you two examples:

With the construction and upgrading of railways under Corridor VIII, we will connect Bulgaria, North Macedonia, and Albania.

Another excellent example is the Trans-Balkan Electricity Corridor. We have already installed many sections of this Corridor, which is the key enabler for the region's energy transition.

Through these investments, we create new markets and job opportunities that directly benefit citizens and businesses in the Western Balkans.

Ladies and Gentlemen,

This Operational Board plays a crucial role in accelerating the region's convergence towards the EU.

Tomorrow, you will be asked to decide on eight more flagship investments. These additional investments will promote our shared vision of a more integrated and prosperous Western Balkans.

I want to take this opportunity to express my heartfelt gratitude to all our partners who have stood with us since 2009. Your unwavering support has been instrumental in our journey. Together, we have transformed the WBIF from a technical assistance platform to the main cooperation and investment vehicle in connectivity. We have weathered crises and celebrated successes, always united in our commitment to the Western Balkans.

Although we take a moment to recognize our achievements over the 15 years, we are certainly not standing still. Just a month ago the Reform and Growth Facility entered into force to support the Growth Plan objectives to boost the region's socio-economic convergence with the EU and increase the pace of accession.

The WBIF, as the key implementation platform, will channel 3 billion euros of grants and loans to support priority investments in key areas. I would like to thank our partners in the Western Balkans for their proactive assistance in identifying the most relevant socio-economic reforms that will rapidly unlock the region's growth potential. We are working around the clock to finalize the Reform Agendas and to bring the Facility in motion.

We need to get the Facility in full swing as soon as possible!

I am looking forward to continuing our journey and I am confident that, once again, the WBIF will deliver and prove its ability to adapt and respond to the new dynamics.

Thank you!