Western Balkan countries must submit their Reform Agendas to the European Commission by 24 August to access the new Reform and Growth Facility funds. Approved agendas will see the first funds released by the end of the year. The facility offers 2 billion EUR in grants and 4 billion EUR in loans from 2024-2027, allocated based on beneficiary population and economic size. Countries must uphold democratic mechanisms, free elections, media pluralism, an independent judiciary, and human rights, including minority rights. Reform Agendas, developed in consultation with CSOs and social partners, are to be assessed by the EC twice a year. Funds are to be released biannually upon meeting specific conditions, and non-compliance may lead to reduced funds. The European Court of Auditors has expressed concerns about the consistent application of these conditions, with doubts about the transparency and ambition of the reforms. Read more here.
Source: European Western Balkans