The Fitch Ratings agency has upgraded Croatia’s credit rating by one notch, from ‘BBB-‘ to ‘BBB’, citing a positive outlook. This is the best rating in Croatia’s history.

 

“Fitch expects Croatia to be in a position to join the euro in January 2023 due to its significant progress in meeting convergence and structural reform criteria, despite the pandemic shock, and political support at the wider eurozone level for Croatia’s membership,” the agency said in a report.

 

“Euro adoption is supportive of the rating, as it would provide the sovereign with reserve currency status, reduce transaction costs and limit exchange rate risk to corporate and household balance sheets,” it added.

 

 

A new EU funded technical assistance project worth €2 million was launched in October 2021 to support the preparation of a Feasibility Study for the District heating, based on renewable energy in eight Kosovo* municipalities - Gjilan, Ferizaj, Prizren, Peja, Drenas, Obiliq/Kastriot, Mitrovica and Zveçan - including Cost Benefit Analyses and an Environmental and Social Impact Assessment Report.

 

 

The government declared a 30-day energy crisis starting Tuesday (9 November) at the request of the Commission monitoring the electricity supply within the economy ministry, Economy Minister Kreshnik Bekteshi told a press conference.

 

The decision was due to “reduced domestic production capacities…and increased global (electricity) prices,” amid the global energy crisis. He said the government would provide €65 million to the MEPSO electricity company and two other enterprises to pay for electricity, coal, and oil imports. 

 

 

 

The development of railways in Western Balkan countries takes an important part in of European Union’s Economic and Investment Plan for the Western Balkans, as it does for all countries in European Union. Indeed the first three Flagships of this Plan have important railway components. Therefore, the European Union finances the project “Rehabilitation of the Durres – Rrogozhina Railway Section in Albania” with a budget of €1.7 million which will meet European standards, increase train speed, and improve travel safety particularly at level crossings. Flagship 3 (Railway line Podgorica – Tirana) is linked in Durres to this railway section.

 

 

 

Steel construction works on the cross-border bridge at Gradiška on the Sava river, one of the most important regional infrastructure projects, connecting Bosnia and Herzegovina and Croatia, were finalised on Friday. The European Union is co-funding the building of this vital bridge with €3.2 million in grants. The bridge is one of the most important projects on the Sava River and will enable an essential transport connection between Bosnia and Herzegovina and Croatia, as well as the rest of Europe. The ceremony was attended by Stefano Ellero, Head of Cooperation of the Delegation of the European Union in Bosnia and Herzegovina, Vojin Mitrović, Minister of Communications and Transport of BiH, Tomislav Mihotić, State Secretary of the Ministry of Sea, Transport and Infrastructure of Croatia and Matej Zakonjšek, Director of the Transport Community Permanent Secretariat.