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EU supports Bosnia and Herzegovina with €125 million in macro-financial assistance
The EU has disbursed €125 million in macro-financial assistance (MFA) to Bosnia and Herzegovina. This disbursement is part of the €3 billion emergency macro-financial assistance package for ten enlargement and neighbourhood partners, which aims to help them respond to the economic impact of the COVID-19 pandemic. MFA support is provided through loans at very favourable rates. The programme is a concrete demonstration of the EU’s solidarity with its partners to help respond to the economic impact of the pandemic.
The disbursement of this first instalment follows the agreement and ratification of a Memorandum of Understanding (MoU) between the European Commission and Bosnia and Herzegovina. The MoU lays out the specific policy measures that Bosnia and Herzegovina will implement to improve economic governance, financial sector stability, transparency and the fight against corruption, and the functioning of the labour market. The disbursement of the second and final instalment of €125 million will be conditional on the implementation of these policy measures which will require close cooperation between all levels of government in Bosnia and Herzegovina. With this disbursement, the EU has successfully completed five out of the ten MFA programmes in the €3 billion COVID-19 MFA package, and disbursed the first tranches to all partners.
Source: EU Delegation to Bosnia and Herzegovina
Photo credits: EU Delegation to Bosnia and Herzegovina
