The European Commission announced on Wednesday April 22, a €3 billion macro-financial assistance package (MFA) for ten enlargement and neighbourhood countries, to assist them with mitigating the Covid-19 economic impact.
“European solidarity must not stop at the borders of our Union. Because in this global crisis, we stand or fall together,” said Paolo Gentiloni, Commissioner for Economy.
Once the Council and the Parliament approve the proposal, the first instalment of loans will be disbursed, and will be available for one year, in “highly favourable terms to help these countries cover their immediate, urgent financing needs.” The second instalment could be disbursed in the fourth quarter of 2020 or in the first half of 2021.
Ukraine will receive the largest amount of funds, with €1.2 billion being earmarked for the country. Outside Europe, €600 million will be allocated to Tunisia and €200 million to Jordan.
On Wednesday, Ukraine’s President Volodymyr Zelensky tweeted that the Commission’s move to provide the country with more than one third of the funds, “proves that Ukraine was right to make its European choice.”
.@EU_Commission announces it will provide #Ukraine with 1.2 billion EUR to combat #COVID19, an unprecedented sum of macro-financial assistance. The EU decision is one of solidarity and also proves Ukraine was right to make its European choice. A friend in need is a friend indeed
— Володимир Зеленський (@ZelenskyyUa) April 22, 2020
