Commission’s Proposal for a Macro-Financial Assistance Package to support neighbourhood partners in the context of COVID-19 crisis
Today, the European Commission has adopted a proposal for a Macro-Financial Assistance (MFA) package, with a budget of 3 billion euros, to provide assistance to ten enlargement and neighbourhood partners in order to limit the economic fallout of the coronavirus pandemic. The MFA purports to enhance macroeconomic stability and to allow resources to be allocated towards protecting citizens and mitigating the coronavirus pandemic's negative socio-economic consequences.
The Commission proposes to make MFA funds available for 12 months in the form of loans on highly favourable terms to help these countries cover their immediate, urgent financing needs. Specifically, the proposal provides for the MFA funds to be distributed as follows: