"Solidarity and cooperation are the two pillars on which we must build to mitigate the socio-economic effects of the pandemic." Undersecretary Ivan Scalfarotto stated this in his opening speech at the online seminar organized by ISPI on the economic effects of the coronavirus in the Balkans. "The economic challenges will be multiple and will require an integrated use of multiple instruments to support economic recovery," said Scalfarotto. He also noted that it is vital that the financial instruments identified by the European Union are deployed quickly to facilitate effective action in support of regional economies, especially for those countries that are suffering the side effects of the pandemic. "I am considering the impact that the virus is having in the manufacturing and infrastructure sectors in Serbia and North Macedonia or the fallout in the tourism sector in Montenegro and Albania". The Undersecretary believes that the spread of coronavirus has made the deep bond between the EU and the Western Balkans even more evident as well as the need for political and economic investment in support of the European integration process.