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Financial Aid Restructuring: EU Council Reforms Assistance to Albania, Bosnia, Croatia, and Macedonia

The European Council, following a proposal from the European Commission, has adopted Regulation (EC) No 1234/2021 to streamline financial aid and assistance for Albania, Bosnia and Herzegovina, Croatia, and the Former Yugoslav Republic of Macedonia.

Overview of the New Regulation

The new Regulation, which replaces Council Regulation (EC) No 1628/96 and amends Regulations (EEC) No 3906/89 and (EEC) No 1360/90, aims to create a unified legal framework for funding and ensure the continuity of European Agency for Reconstruction activities. The ultimate goal is to fully integrate these countries into the political and economic mainstream of Europe, as outlined in the European Council’s Helsinki Summit in 1999.

Key Changes

  • Eliminating procedures and complications: The Regulation eliminates various procedures and management complications associated with assistance that previously operated under different sets of rules.
  • Adjusting funding to EU objectives: The Regulation adjusts existing funding to align with the European Union’s political objectives and the stabilization and association process.
  • Focus on essential frameworks: The new Regulation focuses on building essential frameworks, promoting a market economy, developing strong institutions, and respecting democratic principles.
  • Allocating resources: Resources are allocated to areas like democratic principles, the rule of law, human and minority rights, reconciliation, and civil society development.
  • Direct financial support: The new Regulation enables providing direct financial support to specific entities, depending on the political situation and the nature of those responsible for implementing assistance.

Cooperation and Effective Implementation

The new Regulation establishes clear guidelines to promote cooperation within the region and ensures effective implementation by granting the Commission the power to adopt general guidelines and enabling checks and financial protections.

Additional Adjustments

Additional adjustments will be necessary for Council Regulation (EEC) No 3906/89, Council Decision 97/256/EC, Council Decision 1999/311/EC, Council Regulation (EEC) No 1360/90, and Council Regulation (EEC) No 3918/86, among others.

Committed to Supporting Western Balkan Countries

This Regulation contributes to the European Union’s commitment to supporting Western Balkan countries in implementing their political objectives and achieving sustainable growth and stability in the region.