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European Council adopts COVID-19 assistance package to support North Macedonia and other neighbouring partners

The European Council adopted Wednesday a decision to provide up to EUR 3 billion of macro-financial assistance to ten enlargement and neighbourhood partners to help them cope with the economic fallout of the COVID-19 pandemic.

Brussels, 20 May 2020 (MIA) – The European Council adopted Wednesday a decision to provide up to EUR 3 billion of macro-financial assistance to ten enlargement and neighbourhood partners to help them cope with the economic fallout of the COVID-19 pandemic.

Financial assistance will be provided in the form of loans on highly favourable terms.

North Macedonia is set to get EUR 160 million, Albania EUR 180 million, Bosnia-Herzegovina EUR 250 million, Georgia EUR 150 million, Jordan EUR 200 million, Kosovo EUR 100 million, Moldova EUR 100 million, Montenegro EUR 60 million, Tunisia EUR 600 million and Ukraine EUR 1,2 billion.

“EU assistance will help these jurisdictions cover their immediate financing needs which have increased as a result of the COVID-19 outbreak. Together with the support from the International Monetary Fund, the funds will help enhance macroeconomic stability and create space to allow resources to be allocated towards protecting citizens and to mitigating the negative socio-economic consequences of the coronavirus pandemic,” the Council said in a press release.

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