EU Partner countries get €3bn in loans to prop up economies affected by pandemic

European Parliament - EP Facebook Page

Reading Time: < 1 minute

The European Parliament approved €3 billion in loans to help EU neighbours and partner countries deal with the fallout of COVID-19.

The loans, which will be given on highly favourable terms and disbursed over a year, will help the following ten countries whose economies have been pushed into recession by the pandemic: the Republic of Albania (€180 million), Bosnia and Herzegovina (€250 million), Georgia (€150 million), Jordan (€200 million), Kosovo (€100 million), the Republic of Moldova (€100 million), Montenegro (€60 million), the Republic of North Macedonia (€160 million), the Republic of Tunisia (€600 million) and Ukraine (€1.2 billion).

The goal of the funding is to allow these countries to mitigate the negative social and economic effects of the crisis while preserving the state’s financial stability.

To speed up the disbursement of the assistance, Parliament voted on its approval in urgent procedure (defined under Rule 163). Council greenlighted the package on 5 May.

The decision was adopted by 547 votes in favour, 93 against and 47 abstentions.

%d bloggers like this: