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#Coronavirus - Commission proposes €3 billion macro-financial assistance package to support ten neighbouring countries

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The 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 coronavirus pandemic.

The proposal comes on top of the ‘Team Europe' strategy, the EU's robust and targeted response to support partner countries' efforts in tackling the coronavirus pandemic. It represents an important demonstration of the EU's solidarity with these countries at a time of unprecedented crisis.

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

A full press release is available here.

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