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European Commission Announce eight macro-financial COVID-19 assistance programmes to support enlargement and neighbourhood partners

On the 11th August the European Commission, on behalf of the EU, agreed a Memoranda of Understanding (MoU) on macro-financial assistance (MFA) programmes with eight enlargement and neighbourhood partners. The agreements are part of a €3 billion MFA package for ten enlargement and neighbourhood partners, aimed to help them limit the economic fallout of the coronavirus pandemic.

The eight countries to agree a Memoranda of Understanding include Albania, Georgia, Jordan, Kosovo, Moldova, Montenegro, North Macedonia and Ukraine. Negotiations of the MoUs with the remaining two countries – Bosnia and Herzegovina, and Tunisia – are still underway.

Under the programme the beneficiaries will receive the following financial assistance:
Albania: €180 million
Georgia: €150 million
Jordan:€700 million
Kosovo: €100 million
Moldova: €100 million
Montenegro: €60 million
North Macedonia: €160 million
Ukraine: €1.2 billion

In order to receive this assistance each country has agreed to implement a number of policy actions. To find out more about what these policy actions entail and the terms of the macro-financial assistance (MFA) programmes, please click here.