EU disburses a further €460 million to mitigate economic fallout of COVID-19 News | WeBalkans


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EU disburses a further €460 million to mitigate economic fallout of COVID-19

The European Commission, on behalf of the EU, has made further disbursements under its COVID-19 Macro-Financial Assistance (MFA) package to Kosovo, Montenegro and North Macedonia, as well as Tunisia. The allocations of €50 million to Kosovo, €30 million to Montenegro and €80 million to North Macedonia are part of the €3 billion MFA package agreed in May 2020 to help ten enlargement and neighbourhood partners mitigate the economic fallout of the COVID-19 pandemic.


All partners receiving disbursements continue to satisfy the pre-conditions for granting MFA regarding the respect of human rights and effective democratic mechanisms, including a multi-party parliamentary system and the rule of law.


With this disbursement, the EU has successfully completed three out of the 10 Macro-Financial Assistance (MFA) programmes in the €3 billion COVID-19 MFA package and disbursed the first tranches of assistance to all partners but one. The last partner, Bosnia and Herzegovina, is set to receive its first instalment, a €125 million loan, once it ratifies its Memorandum of Understanding.


The Commission continues to work closely with all its Macro-Financial Assistance (MFA) partners to timely implement the agreed policy programmes.

Source: European Union

Photo credits:  European Union


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