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The European Commission signs macro-financial assistance loan agreement with Kosovo worth up to €100 million
The European Commission has signed a Memorandum of Understanding (MoU) with Kosovo, paving the way for the first disbursement of €50 million in Macro-Financial Assistance (MFA). The second installment of €50 million will be disbursed later in 2020 or early 2021.
MFA funds are being made available in the form of long-term loans on very favourable terms. The funds will contribute to Kosovo’s macroeconomic stability so that the government’s financial resources can be allocated to mitigate the severe socio-economic consequences of the coronavirus.
The total MFA programme for Kosovo is worth up to €100 million. Nataliya Apostolova, Head of the EU Office in Kosovo/EU Special Representative warmly welcomed the agreement and called on the Kosovo Assembly to proceed swiftly with its ratification, so as to avoid any delayed disbursement. The MoU included policy conditions on measures to address public finance and financial stability, youth unemployment, good governance and the fight against corruption.
More Information: The European Union in Kosovo
This is an adaptation of an article published by the European External Action Service. Read the original article.
Photo Credit: European Union Office in Kosovo - Ambassador Apostolova meets Prime Minister Avdullah Hoti
