May 7 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) is planning a sharp rise in financing for the Western Balkans this year to 1.7 billion euro ($1.8 billion) from 1.3 billion euro in 2019 to combat the impact of the coronavirus crisis, president Suma Chakrabarti said.
EBRD financing in the Western Balkans would specifically target micro, small and medium-sized enterprises and trade finance, as well as infrastructure services in the energy and municipal sectors, Chakrabarti said in a statement on Wednesday.
With its Solidarity Package of response and recovery measures to combat the impact of the novel coronavirus (COVID-19), the EBRD was proud to be supporting the efforts of "Team Europe" in the region, Chakrabarti said at a European Union-Western Balkans summit, which was initially scheduled to have been held in Croatia's Zagreb.
"In the Western Balkans, policy support would focus on improving efficiency and transparency of public governance, developing competitive and inclusive economies, accelerating a fair and equitable transition to a green economy and enhancing regional integration," Chakrabarti said.
The EBRD has provided a total of 13 billion euro to the Western Balkans to date.