The European Commission has disbursed €50 million in loans to North Macedonia, marking the first tranche of a €100 million Macro-Financial Assistance (MFA) package. This financial aid addresses the economic fallout from the recent energy crisis triggered by the Russian and Ukraine conflict.
This €50 million disbursement is part of a larger €100 million MFA package aimed at supporting the macroeconomic stability and structural reforms of North Macedonia. It aligns with the ongoing programme of the country with the International Monetary Fund (IMF) and aims to help North Macedonia advance its European integration efforts. Moreover, the release of this tranche goes along with the positive assessment that North Macedonia has received lately in achieving key policy commitments. For instance, the country has made progress in several areas, including establishing an independent Fiscal Council, enhancing public investment management, broadening the tax base, formalising the informal economy, improving energy efficiency, and implementing a new Strategy on Judicial Reform.
The MFA operation supports the economic stability and European integration efforts of North Macedonia. Since 2020, the EU has provided about €210 million in MFA to the country. In addition to MFA, North Macedonia has also received substantial support through the Instrument for Pre-Accession Assistance (IPA). From 2014 to 2020, the EU allocated €608.7 million to North Macedonia, targeting key sectors such as governance, rule of law, environment, transport, competitiveness, social development, agriculture, and regional cooperation.
The EU financial support is crucial for North Macedonia as it navigates significant economic challenges, underscoring the EU commitment to the stability and long-term development of the country. DMX Associates, we closely monitor all updates regarding EU funding and financial directions. Any updates will be published on our website. Do not hesitate to check back regularly or contact us for more information.
