The European Commission has agreed on a Memorandum of Understanding (MoU) relating to macro-financial assistance programmes with eight countries, including four Western Balkan countries.
Albania will receive a portion of the funds which are a part of a EUR 3 billion assistance package for enlargement and neighbourhood partners. It is hoped it will help to limit the economic fallout of the COVID-19 pandemic.
Proposed in April of this year, MoUs have now been signed with Albania, Kosovo, Montenegro, and North Macedonia. Serbia has been notified of its eligibility to apply but it has not done so as of yet.
In Albania, EUR 180 million will be used to strengthen public finance and increase the resilience of the financial sector. It will also be used to improve governance, fight corruption and enhance social protection.
Kosovo will receive EUR 100 million to strengthen public finance, address youth unemployment and to fight corruption.
Montenegro will receive EUR 60 million and North Macedonia, EUR 160 million.
