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The EC Plan for Economic Recovery Also Relates to the Western Balkans

The European Commission will continue to financially assist the countries of the Western Balkans and candidates for EU membership, as included in the EU’s economic recovery plan presented on Wednesday in Brussels, which demonstrates solidarity with the countries awaiting enlargement, it was announced on Thursday by the Delegation of the European Commission in Bosnia and Herzegovina.

"In the comprehensive plan for economic growth and jobs presented by the EC, solidarity has been expressed with candidate and potential candidate countries. The Commission will continue to support the economic and social recovery of candidate countries and the countries of the Western Balkans, to the mutual benefit of the European Union and the region," the statement said. It explains how the Commission "Crisis Response Package", worth 120 million euros, will support economic development, particularly of small and medium-sized enterprises, as well as with a 500 million euro loan to be provided by international financial institutions. When adopting the EC recovery plan, Commissioner for Enlargement Olli Rehn stated that he was pleased that the Commission accepted this important proposal and that it is very important that the countries in the enlargement process have not been forgotten.

"The financial crisis has clearly shown how integrated Southeast Europe already is within the European Union. The new economies in the region are among the most dynamic in Europe, which is a main destination for exports. This also shows that enlargement does not cause problems; on the contrary, enlargement is part of the solution for the economic revival of Europe. Our fate is shared," Rehn said.

The EC recovery plan is based on two mutually supportive factors. The first is short-term measures to stimulate demand, save jobs, and restore confidence, while the second is "smart investments" that will enable greater growth and sustainable progress in the long term. (Hina)