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1. This Regulation establishes the Reform and Growth Facility for the Western Balkans (the ‘Facility’). It lays down the objectives of the Facility, its financing and budget for the period from 2024 to 2027, the forms of Union funding under it and the rules for providing such funding.

2. The Facility shall complement Regulation (EU) 2021/1529 to provide assistance to the Western Balkans for the delivery of EU-related reforms, in particular inclusive and sustainable socio-economic reforms and reforms concerning fundamentals of the enlargement process, aligned with Union values, as well as investments to implement their respective Reform Agendas, as set out in Chapter III.