The European Commission and Northern Macedonia have signed a Memorandum of Understanding paving the way for the disbursement of €80m in macro-financial assistance to the Western Balkan country. It is the first Memorandum signed as part of a €3bn macro-financial assistance package proposed by the Commission to help ten partners in the EU’s enlargement and process to limit the economic consequences of the coronavirus pandemic.
Macro-financial assistance will be available in the form of long-term loans on very favorable terms. These funds will contribute to strengthening macro-financial stability and help mitigate the socio-economic consequences of the pandemic. The condition for the payment of the second, last tranche, will be the implementation of the policies agreed between the EU and Northern Macedonia, which are stated in the Memorandum.
