Serbia set to receive first prefinancing funds under EU Growth Plan, Tanjug learns

BRUSSELS - In the coming days - by the end of next week at the latest - Serbia will receive the first EU prefinancing funds under the Growth Plan for the Western Balkans, having met all the required conditions, Tanjug's diplomatic sources in Brussels said on Wednesday.

Under the 6 bln euro package, every beneficiary country in the region can receive prefinancing funds amounting to 7 pct of the total if it meets the conditions.

Serbia met the last formal condition after its parliament ratified an EU-Serbia loan agreement on March 13 as part of a Reform and Growth Facility for the Western Balkans, the diplomatic sources said.

The prefinancing funds available to Serbia total 101.8 mln euros, sources in the European Commission told Tanjug on Tuesday.

Under the Growth Plan, Serbia is to have 1.58 bln euros available in grants and very favourable loans until 2027.