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Coronavirus: European Commission disbursed EUR 50 million of assistance to Kosovo

The European Commission, on behalf of the EU, has disbursed EUR 50 million of the macro-financial assistance (MFA) programme for Kosovo. The Macro-financial Assistance (MFA) is part of the EU’s wider engagement with neighbouring and enlargement countries and is intended as an exceptional EU crisis response instrument.

According to a statement of the EU Office in Kosovo, MFA funds are made available in the form of long-term loans on highly favourable terms. The MFA 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. On 30 July 2020, the Commission on behalf of the EU has signed a Memorandum of Understanding (MoU) with Kosovo that is worth up to EUR 100 million divided in two equal instalments of EUR 50 million.

In order to receive the second tranche of assistance, nine policy conditions were agreed in the Memorandum of Understanding, ie measures should address public finance and financial stability, youth unemployment and good governance and the fight against corruption. The fulfilment of the policy actions will be assessed before the disbursement of the second instalment that could be paid in the first half of 2021, depending on how quickly Kosovo implements the agreed policy measures. /GazetaExpress/

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