EU disburses €125 million in Macro-Financial Assistance to Bosnia and Herzegovina
The European Commission, on behalf of the EU, has disbursed €125 million in macro-financial assistance (MFA) to Bosnia and Herzegovina. This disbursement is part of the €3 billion emergency MFA package for ten enlargement and neighbourhood partners, which aims to help them respond to the economic impact of the COVID-19 pandemic. MFA support is provided through loans at very favourable rates. The programme is a concrete demonstration of the EU's solidarity with its partners to help respond to the economic impact of the COVID-19 pandemic.
Paolo Gentiloni, Commissioner for the Economy, said:
“This disbursement of €125 million in financial support represents an important act of solidarity with the people of Bosnia and Herzegovina. It is an important contribution towards repairing some of the economic and social damage inflicted by the COVID-19 pandemic. We look forward to working with the national authorities in the coming months to deliver the policy actions needed to further enhance the country's macroeconomic stability.”
The disbursement of this first instalment follows the agreement and ratification of a Memorandum of Understanding (MoU) between the Commission and Bosnia and Herzegovina. The MoU lays out the specific policy measures that Bosnia and Herzegovina will implement to improve economic governance, financial sector stability, transparency and fight against corruption and a better functioning of the labour market. The disbursement of the second and final instalment of €125 million will be conditional on the implementation of these policy measures. The implementation of these policy measures will require close cooperation among Bosnia and Herzegovina's authorities at all levels of government.
With this disbursement, the EU has successfully completed five out of the 10 MFA programmes in the €3 billion COVID-19 MFA package, and disbursed the first tranches to all partners.
The Commission continues to work closely with the rest of its MFA partners on the timely implementation of the agreed policy programmes.
Latest News from
Speech by President von der Leyen at the European Parliament Plenary on the rule of law crisis in Poland and the primacy of EU law19/10/2021 16:33:00
Speech given by President von der Leyen at the European Parliament Plenary on the rule of law crisis in Poland and the primacy of EU law.
Bosnia and Herzegovina: Council approves conclusions on EUFOR Operation Althea19/10/2021 15:25:00
The Council reiterates its unequivocal commitment to Bosnia and Herzegovina’s EU perspective as a single, united and sovereign country.
The EU Digital COVID Certificate: a global standard with more than 591 million certificates19/10/2021 13:25:00
The Commission yesterday adopted a report on the EU Digital COVID Certificate and its implementation across the EU.
EU-US Trade and Technology Council: Commission launches consultation platform for stakeholder's involvement to shape transatlantic cooperation19/10/2021 11:33:00
The Commission yesterday launched an online consultation platform on the EU-US Trade and Technology Council (TTC), allowing stakeholders to share their views and provide common proposals on the work ahead.
ISIL/Da'esh and Al-Qaeda: sanctions regime prolonged until 31 October 202219/10/2021 10:38:00
The Council today renewed the existing restrictive measures against ISIL/Da'esh and Al-Qaeda and persons, groups, undertakings and entities associated with them, prolonging the duration of the sanctions regime for a further 12 months until 31 October 2022.
Statement by President von der Leyen on vaccine exports19/10/2021 09:25:00
Statement given yesterday by President von der Leyen on vaccine exports.
Statement following Vice-President Šefčovič's meeting with Lord Frost on Friday 15 October18/10/2021 16:33:00
Statement given following Vice-President Šefčovič's meeting with Lord Frost on Friday 15 October.
EU Military Training Mission in Mozambique set to start its operations18/10/2021 15:25:00
The Council recently (15 October 2021) adopted a decision launching the European Union Military Training Mission in Mozambique (EUTM Mozambique).
The European Institute of Innovation and Technology supports the New European Bauhaus with €5 million18/10/2021 14:20:00
The European Institute of Innovation and Technology (EIT) is today launching the ‘EIT Community Booster – Scaling New European Bauhaus Ventures' in order to support the New European Bauhaus initiative.
State aid: Commission approves €700 million French scheme for certain retailers and services affected by the coronavirus pandemic18/10/2021 13:25:00
The European Commission has approved, under the EU state aid rules, a €700 million French scheme to support certain retailers and services affected by the coronavirus pandemic and restrictive measures taken by the French government to limit the spread of the virus.