The European Bank for Reconstruction and Development (EBRD) expects its investments in the Former Yugoslav Republic of Macedonia and Greece to rise significantly after the two countries solved the dispute regarding FYROM’s official name, a Reuters report says.
“This can unlock a lot of projects….Both sides are looking into translating potential political success into very concrete investments,” EBRD Vice President Pierre Heilbronn told Reuters on Monday.
Heilbronn also said that the agreement on the name will also heighten the interest of other investors in the Balkan region.
The EBRD Vice President added that the bank expects to invest particularly in cross-border projects between the two states, such as in the gas and transport sectors, but could not give more details.
Last year the EBRD invested approximately €630 million ($730.93 million) into Greece and €50 million ($58.01 million) into FYROM.
Heilbronn explained that in the coming three years, EBRD plans to invest about €900 million per year in the Western Balkans, namely in FYROM, Serbia, Bosnia, Montenegro, Albania and Kosovo.
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