The European Commission disbursed further funds from its COVID-19 macro-financial assistance (MFA) package to Kosovo, Montenegro and North Macedonia, with a total value of €160mn, it said on June 1. It also disbursed €300mn to Tunisia as part of the same package.

The €3bn MFA package was agreed in May 2020 to help ten enlargement and neighbourhood partners mitigate the economic fallout of the COVID-19 pandemic.

For Kosovo, this is the second and final tranche of its €100mn MFA programme. Kosovo has fulfilled the policy conditions agreed with the EU for the release of the second €50mn disbursement under the programme.

The funds are aimed at implementing measures to improve the sustainability of public finances, enhance financial stability, strengthen good governance and the fight against corruption, as well as initiatives to increase youth employment, the European Commission said.

For Montenegro, this is the second and final tranche of its €60mn MFA programme. Montenegro will receive €30mn for measures in the areas of public finance management, financial stability, good governance and the fight against corruption, improvements in the business environment, and social protection.

The European Commission said it disbursed €80mn for North Macedonia, which is the second and final tranche of its €160mn programme.

Measures that will be implemented are in the area of strengthening fiscal governance and transparency, fight against corruption, and also to enhance financial sector supervision, improve the business environment, and tackle youth unemployment.

“Today marks another concrete step forward in the fight against the fallout of the Covid-19 pandemic with the successful completion of the macro-financial assistance to Kosovo, Montenegro and North Macedonia and the first disbursement to Tunisia. The EU remains more committed than ever to support its neighbours in these difficult times.” Paolo Gentiloni, Commissioner for the Economy, said.