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Commission proposes macro-financial assistance to Armenia and Georgia

The proposal to the Council foresees loans and grants to support their economic recovery

16/10/2009

Macro-financial assistance to Armenia

The European Commission proposed to the Council to provide macro-financial assistance (MFA) to Armenia in the form of a loan of up to €65 million and a grant of up to €35 million. The assistance will support the adjustment programme agreed between Armenia and the International Monetary Fund to help the country through the global crisis.

Macro-financial assistance to Georgia

Separately, it proposed €46 million in grants to Georgia, also under the European Union's MFA programme. The assistance is part of an EU package of up to €500 million to support Georgia's economic recovery in the aftermath of the conflict with Russia, and will support the adjustment programme agreed with the IMF.

>> Press release IP/09/1535.  Macro financial assistance: Commission propoises € 100 million to Armenia and € 46 million for Georgia Choose translations of the previous link 

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