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European Neighbourhood Policy and Enlargement Negotiations
News article16 July 2020Directorate-General for Neighbourhood and Enlargement Negotiations

Coronavirus: Macro-financial assistance agreement provides for €80 million disbursement to North Macedonia

The Commission on behalf of the EU has signed a Memorandum of Understanding (MoU) with North Macedonia to pave the way for the disbursement of €80 million in macro-financial assistance (MFA).

North Macedonia - EU flags

The Commission on behalf of the EU has signed a Memorandum of Understanding (MoU) with North Macedonia to pave the way for the disbursement of €80 million in macro-financial assistance (MFA). This is the first MoU signed as part of €3 billion MFA package that the Commission proposed for ten enlargement and neighbourhood partners to help them limit the economic fallout of the coronavirus pandemic. MFA funds will be made available in the form of long-term loans on highly favourable terms. The funds will contribute to enhance macroeconomic stability and create space to allocate resources towards mitigating the severe negative socio-economic consequences of the coronavirus pandemic. The MFA programme for North Macedonia is worth up to €160 million. Paolo Gentiloni, Commissioner for the Economy, said: “Today we signed a Memorandum of Understanding with North Macedonia, paving the way for the disbursement of €80 million in financial support. This is the first MoU signed as part of the €3 billion macro-financial assistance package in support of 10 countries in the EU's neighbourhood. The EU is committed to fighting the coronavirus pandemic both within and beyond our borders. We stand in solidarity with North Macedonia: we are stronger together.” The Decision on providing macro-financial assistance to ten enlargement and neighbourhood countries in the context of the COVID-19 pandemic was proposed by the Commission on 22 April and adopted by the co-legislators on 25 May 2020. The press release is available here.

For more information:

Marta Wieczorek – Tel.: +32 229 58197
Siobhán Millbright – Tel.: +32 229 57361

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