Thank you, dear António, for convening this EU-Western Balkans Summit. It was the first of this new political cycle which shows how important it is for us to have it. Over the past years, the enlargement process has gained new vitality. Unprecedented challenges, like the COVID-19 pandemic and Russia's war on Ukraine, have accelerated the pace not only of history but also the pace of moving forward the accession process. We have to rise to a new reality. The new reality is that it is not enough to simply leave the door open for our aspiring members, but we have to be active, and we have to actively bring them closer to us. We will keep the same ambition and political commitment during this new term. We will continue to work hard on two priorities with our Western Balkan partners: EU accession and gradual integration into our Single Market.
First, on accession. There was remarkable progress over the past year. Just this week, we closed three more negotiation chapters with Montenegro. We hope to see more closed in 2025. We also just opened the external relations cluster with Albania. And the Council also agreed to move forward on the opening of cluster 3 with Serbia.
Enlargement works. History proves it. In just a few days, we will mark 30 years of the 1995 enlargement. And this year, we also marked 20 years of the 2004 enlargement, when 10 countries joined our Union. Each wave has made our Union stronger. But we know that success relies not only on readiness but also on readiness on both sides. Future Member States must prepare for the responsibilities of membership. But at the same time, the EU must adapt to accommodate a larger family. This is why, early in this mandate the Commission will review its major sectoral policies. We want to make sure that they are adapted to an enlarged Union. The accession process is rigorous. It is merits-based and it will remain so. But given the geopolitical situation, we are redoubling our efforts to support our partners who want to make progress.
This leads me to my second point: gradual integration into the Single Market. In October 2020, we put forward an Economic and Investment Plan of EUR 30 billion for the region. This Investment Plan is building roads, railways, electricity networks, broadband, creating connections between us. And it is delivering. Already 60% of the financing has been mobilised, with new projects breaking ground all the time. So, it is a success. A success we are building on with the Growth Plan. The Growth Plan can bring the economies of the Western Balkans closer to us. Right now, the economies of the Western Balkans stand at 35% of the EU average. The Growth Plan has the potential to double their size, within this decade, so within this mandate.
The Growth Plan is EUR 6 billion in investments, and the principle is both investments and reforms. We now have five ambitious reform agendas in place for five Western Balkan partners, they suggest the reform agendas. And we are looking forward to receiving the sixth one. In return, these reforms are backed by investments. We are preparing pre-financing worth over EUR 300 million to start with the reforms. At the same time, and that is important, the Growth Plan offers Western Balkan partners a gradual access to our Single Market. So it is investment and opening for the reforms, it is a unique approach. And it is working. Let me give you some examples. Take the so-called 'green lanes.' We are speeding up the movement of people and goods at ten key border crossing points between the EU and the Western Balkans. This will lower the waiting time at the border by up to 80%. We are also bringing the Western Balkans into the Single Euro Payments Area. This means very simple, low-cost, fast, and secure money transfers between the Western Balkans and the EU – very important for the citizens and the companies. Albania and Montenegro will join as of next year, North Macedonia and Serbia are set to follow soon.
Finally, a brief glance on regional cooperation. Our partners are also making progress with their Common Regional Market, the Western Balkan Common Regional Market. The last Berlin Process Summit was pivotal in this respect. Five mobility agreements are now being implemented. These agreements, from e-commerce to the recognition of professional qualifications, are breaking down barriers for people and businesses alike within the Common Regional Market of the Western Balkans.
So lots of good work on its way, thank you again, António, for convening this Western Balkans Summit.
