EU to fund rail Corridor VIII

TIRANA, May 14 – The European Commission has confirmed its intention to use up to Euro 1 billion from the new Instrument for Pre-Accession Assistance for infrastructure investment in the six IPA beneficiaries in the Western Balkans region for the 2014-2020 programming period. The statement was made at an EU-Western Balkans ministerial conference held in Thessaloniki on May 8. Combined with funds from the Financial Institutions, the EU funds aim to attract private capital that could finance at least Euro 10 billion of investment in the Western Balkans, targeting key priorities of the beneficiary countries. Major regional projects could include the motorway and rail Corridor X from Zagreb to Athens, the rail Corridor VIII from the Black Sea ports of Bourgas and Varna in Bulgaria to the Adriatic Sea ports of Vlore and Durres in Albanian, the Trans-Adriatic Pipeline connecting Greece to Italy, and the Ionian-Adriatic Pipeline running along the Adriatic coast from Albania to Croatia.