The Council of the European Union adopted decision on Wednesday to provide up to EUR three billion worth of macro-financial assistance to ten enlargement and neighborhood partners, thus helping them cope with the economic fallout of the COVID-19 pandemic.

Financial assistance will be provided in the form of loans on highly favorable terms.  

Bosnia and Herzegovina has been approved EUR 250 million, more than any other country in the region of Western Balkans. The other four countries - Albania (€180 million), Kosovo (€100 million), Montenegro (€60 million), and North Macedonia (€160 million) - will receive a combined total of EUR 500 million.

Other beneficiaries include Ukraine (€1.2 billion), Tunisia (€600 million), Jordan (€200 million), Georgia (€150 million), and Moldova (€100 million).

Statement published on the official website reads that the EU assistance will help these countries cover their immediate financing needs which have increased as a result of the COVID-19 outbreak. “Together with the support from the International Monetary Fund, the funds will help enhance macroeconomic stability and create space to allow resources to be allocated towards protecting citizens and to mitigating the negative socio-economic consequences of the coronavirus pandemic”, the statement reads.

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