6 minutes agoEuropean Council allocates 100m euros for Kosovo
Periskopi(6 years ago)
(6 years ago)100m euros have been approved for Kosovo by the European Council on Wednesday, under a three-billion-euro bailout package, for the assistance of EU candidate states and neighbours in Eastern and South Partnership, proposed earlier by the European Commission. Money from the so-called “The Fast Financing Tool” are [...]
100m euros have been approved for Kosovo by the European Council on Wednesday, under a three-billion-euro bailout package, for the assistance of EU candidate states and neighbours in Eastern and South Partnership, proposed earlier by the European Commission.
Money from the so-called “The Fast Financing Tool” is destined for the economies of ten countries in order to help them cope with the economic consequences of COVID-19.
Financial assistance will be provided in the form of loans from the International Monetary Fund, under favourable conditions.
Of this amount, 100m euros have been earmarked for Kosovo, 60m euros for Montenegro, 160m euros for northern Macedonia, 250m for Bosnia and 180m euros for Albania.
The money is also planned to help other states, so 150m euros are destined for Georgia, 200m for Jordan, 100m for Moldova, 600m for Tunisia and 1.2 billion euros for Ukraine.
EU assistance from this programme will serve countries that have agreed to cover the additional financial requirements created due to the outbreak of the coronary pandemic, and it will be available to them in the next 12 months.
“These funds will contribute to strengthening macroeconomic stability and creating space for the management of resources for the protection of citizens and easing the negative socioeconomic consequences of the pandemic”, the European Council's announcement reads.
