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