The Commission adopts a 3 billion euros package to support ten neighboring countries

April 23, 2020

Hat: The Commission adopts a 3 billion euros package to support ten neighboring countries

Funding Scheme: 2020-04-23

Amorce:

The 3 billion euros macro-financial assistance package, under the Team Europe strategy, will help the neigbourhood partners to limit the economic fallout of the coronavirus pandemic.

Text:

The proposal, following a preliminary assessment of financing needs, provides for the MFA funds to be distributed as follows: the Republic of Albania (180 million euros), Bosnia and Herzegovina (250 million euros), Georgia (150 million euros), the Hashemite Kingdom of Jordan (200 million euros), Kosovo (100 million euros), the Republic of Moldova (100 million euros), Montenegro (60 million euros), the Republic of North Macedonia (160 million euros), the Republic of Tunisia (600 million euros) and Ukraine (1.2 billion euros).

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 consequences. This instrument also remains available for other eligible countries experiencing balance-of-payments difficulties.

Url description: European Commission - Press corner

Url: https://ec.europa.eu/commission/presscorner/detail/en/ip_20_716