On Friday, the European Commission approved the disbursement of 125 million euros in Total Financial Assistance (MFA) to Bosnia and Herzegovina.
This spending is part of the €3 billion emergency microfinance package for ten partners in the enlargement countries of the European Neighborhood, which aims to help them respond to the economic impact of the COVID-19 pandemic, a press release published by the Commission on its website said. It is also tangible evidence of the EU’s solidarity with its partners to help respond to the economic impact of the coronavirus pandemic.
Paolo Gentiloni, Commissioner for Economic Affairs of the European Union, said: This spending of 125 million euros in financial support represents an important act of solidarity with the Prime Time Zone of Bosnia and Herzegovina. It is an important contribution to repairing some of the economic and social damage caused by the COVID-19 pandemic. We look forward to working with the national authorities in the coming months to provide the necessary policy measures to enhance the country’s macroeconomic stability.
The disbursement of this first installment follows the agreement and ratification of a Memorandum of Understanding (MoU) between the Commission and Bosnia and Herzegovina, outlining specific policy measures that Bosnia and Herzegovina will implement to improve economic governance, financial sector stability, transparency, fight corruption and improve labor market performance. The disbursement of the second and final installment of 125 million euros will be conditional on the implementation of the measures of this policy, the implementation of which will require close cooperation between the authorities of Bosnia and Herzegovina at all levels of government – according to the statement -.
The article European Union: 125 million euros in financial aid to Bosnia and Herzegovina was written in Al Borsa newspaper.