On behalf of the EU, the Commission has agreed Memoranda of Understanding (MoU) on macro-financial assistance (MFA) programmes with eight partners. The agreements are part of the €3 billion MFA package for ten enlargement and neighbourhood partners, aimed to help them limit the economic fallout of the coronavirus pandemic.
Memoranda of Understanding have already been agreed with Albania, Georgia, Jordan, Kosovo, Moldova, Montenegro, North Macedonia and Ukraine. These documents have also been formally signed with four of them: Kosovo, Moldova, North Macedonia and Ukraine. Negotiations of the MoUs with the remaining two countries – Bosnia and Herzegovina, and Tunisia – are underway.
Valdis Dombrovskis, Executive Vice-President for an Economy that works for people, said: “Supporting our neighbours is essential during this time of crisis to keep the entire region stable. As part of the EU's global response to the coronavirus pandemic, we are working to help our neighbouring countries to cushion the worst of its economic impact. These ‘crisis MFA programs' will be provided on favourable terms on the basis of signed Memorandums of Understanding outlining concrete reform commitments. It will help the neighbouring countries to cover their external financing needs in 2020-21, given the difficulties in tackling the economic impact of the pandemic.”