Coronavirus: Commission proposes €3 billion macro-financial assistance package to support ten neighbouring countries
date: 23/04/2020
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. Based on a preliminary assessment of financing needs, the proposal adopted on 22 April provides for the MFA funds to be distributed as follows: the Republic of Albania (€180 million), Bosnia and Herzegovina (€250 million), Georgia (€150 million), the Hashemite Kingdom of Jordan (€200 million), Kosovo (€100 million), the Republic of Moldova (€100 million), Montenegro (€60 million), the Republic of North Macedonia (€160 million), the Republic of Tunisia (€600 million) and Ukraine (€1.2 billion). 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, and complement funds from the International Monetary Fund. The Commission's proposal is subject to adoption by the European Parliament and the Council of the EU.