Macro-Financial Assistance Package for Neighbouring Countries

Submitted by Audry Maulana on 23 April 2020

The European Commission has adopted a proposal for a €3 billion macro-financial assistance (MFA) package to ten enlargement and neighbourhood partners to help them to limit the economic fallout of the COVID-19 pandemic. Following a preliminary assessment of financing needs, the MFA-proposal determines funds to be distributed as follows:

  • the Republic of Albania (€180 million),
  • Bosnia and Herzegovina (€250 million),
  • Georgia (€150 million),
  • the Hashemite Kingdom of Jordan (€200 million),
  • Kosovo (€100 million),
  • the Republic of Moldova (€100 million),
  • Montenegro (€60 million),
  • the Republic of North Macedonia (€160 million),
  • the Republic of Tunisia (€600 million) and
  • Ukraine (€1.2 billion).

The MFA funds will be made available for 12 months in the form of loans on highly favourable terms to help these countries cover their immediate, urgent financing needs. Together with the International Monetary Fund's support, the funds can contribute to enhancing macroeconomic stability and creating space to allow resources to be allocated towards protecting citizens and mitigating the coronavirus pandemic's negative socio-economic impacts. This instrument also remains available for other eligible countries experiencing balance-of-payments difficulties.

The press release can be read by clicking here. Please find more information on the European Commission Coronavirus response website © European Union, 1995-2020

To discuss this topic in the COVID-19 Forum, please follow this link

Share this Article