The Steering Committee is the highest decision making body in the WBIF. It takes all decisions related to the Joint Grant Facility including project approvals and provides strategic guidance for the WBIF. It is composed of representatives of the beneficiaries, the EC, partner IFIs and bilateral donors) and meets every six months. It is co-chaired by the Commission (on a permanent basis) and one of the bilateral donors (on an annual rotating basis). Greece is the Co-Chair of the WBIF Steering Committee in 2013.

The ninth meeting of the WBIF Steering Committee was hosted by EBRD at their London headquarters on 4 December 2013. It considered the overall political and economic environment in which WBIF operates, and had a substantive discussion on the evolution of the framework to adapt to changing institutional, political and financial circumstances, based on the work of the Task Force on the Evolution of WBIF. It approved a series of grants with a total value of € 6.18 million to support the development of 9 strategic investments in energy, environment, transport and social sectors in the Western Balkans. In addition, bilateral donors Sweden, Norway and Germany announced their intention to further contribute to the EWBJF. The SC thanked Greece for their excellent co-chairmanship throughout 2013 and welcomed Germany as the new co-chair for 2014.