EC proposes €3 billion aid package for the region

European Commission has adopted a proposal for a €3 billion macro-financial assistance package to ten enlargement and neighborhood partners to help them to limit the economic fallout of the coronavirus pandemic.

The proposal, following a preliminary assessment of financing needs, 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), a statement issued by the EC states.

“As part of the EU's global response to the coronavirus pandemic, we need to help our neighboring countries to cushion the worst of its economic impact, said Valdis Dombrovskis, Executive Vice-President for An Economy that Works for People while Paolo Gentiloni, Commissioner for Economy, said: “European solidarity must not stop at the borders of our Union. Because in this global crisis, we stand or fall together. Today the European Commission is taking a decisive step to help ten of our neighbors in their fight against the Coronavirus. I call on the European Parliament and the Council to swiftly agree on this important package.”

The Commission's proposal is subject to adoption by the European Parliament and the Council of the EU.