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North Macedonia received the first 52.4 million euros from the Western Balkans Reform and Growth Instrument

by AI | 24.Mar 2025 | Europe in brief AI

Of the amount of 52.4 million euros, 24.4 have already been deposited into the account of the Ministry of Finance in the National Bank, 15 million are grant funds and have been transferred to the Western Balkans Investment Fund, and the remaining 13 million euros are project loans and are in the process of payment.

Workers are putting up the sign "EU with you" on the building of the Secretariat for European Affairs. Photo: MIA

Skopje – North Macedonia has received the first funds amounting to 52.4 million euros from the pre-financing within the EU Instrument for Reforms and Growth of the Western Balkans, of which 24.4 for budget support have already been paid to the Ministry of Finance. 

– The funds from the pre-financing within the Instrument for Reforms and Growth from the EU for our country in the amount of 52.4 million euros have arrived, which is seven percent of the total financial support amounting to 750 million euros for our country. This payment is based on the pre-financing request which we reported last November we had signed and submitted to the EC as the national coordinator for the reform agenda. With this, North Macedonia has become the first country in the region to receive these funds after completing the legal procedures, meaning that the Loan Agreement and Grant Agreement are already in force, informed the Minister for European Affairs Orhan Murtezani at a press conference today.

The second important news related to the Reform Agenda, as Murtezani added, is that on March 14 of this year, the country submitted its first request to the EC within the stipulated deadline for the release of additional funds amounting to 17.1 million euros for the implementation of reforms, of which 7.96 million euros are for direct budget support, and the remaining 9.15 million euros are for investment projects through the joint fund of the investment framework for the Western Balkans.

– These funds will be available once the Commission completes the assessment of the reform fulfillment, for which there are 90 working days available, stated Murtezani.

To a journalist’s question, the Minister for European Affairs stated that out of the sum of 52.4 million euros, 24.4 have already been deposited into the account of the Ministry of Finance at the National Bank, 15 million are grants and have been transferred to the Investment Fund for the Western Balkans, and the remaining 13 million euros are loans for projects and are in the payment process.

He added that there intense focus on implementing the steps to fulfill the period until June of this year for which activities about 70.6 million euros are planned. (March 24, 2025)