The European Commission on Tuesday announced the sixth investment package for the Western Balkans expected to mobilise €1.2 billion in investments in water supply, wastewater treatment, rail transport, and green transformation in small and medium enterprises.

That amount includes €300 million in EU grants from the existing Instrument for Pre-accession Assistance, while the rest will come from bilateral contributions from EU member states and Norway, loans from international financing institutions, and contributions from the economies of the Western Balkans.

The investments are intended for the reconstruction and rehabilitation of water supply and sanitation infrastructure in Montenegro and Bosnia and Herzegovina, the high-speed Belgrade-Velika Plana rail connection, and the green transformation of enterprises in the region.

“These investments, along with necessary reforms and access to our Single Market, will prepare our partners’ economies to join our Union,” Commission President Ursula von der Leyen said.