The head of the EU Delegation to Albania, Ambassador Luigi Soreca said in a reaction that IPA III will support the enlargement policy.
Soreca also stressed that IPA III will provide funding for the Economic and Investment Plan for the Western Balkans.
"A political agreement is reached for 14 billion euros as an Instrument for Pre-Accession Assistance. IPA III will support enlargement policy and provide funding for the Economic and Investment Plan for the Western Balkans, a key tool to support the region's economic recovery after COVID19," said Soreca.
According to the EC, the political agreement on the budget of the new pre-accession instrument has yet to be accompanied by a legal basis and formally approved by the European Parliament and the Council.
Beneficiaries of the assistance are Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia and Turkey.