The decision on providing macro-financial assistance for North Macedonia in the amount of €100 million, which entered into force today, represents support to country’s EU path, support to implementing reforms and most importantly support to policies in times of crisis.

Skopje, 17 July 2023 (MIA) – The decision on providing macro-financial assistance for North Macedonia in the amount of €100 million, which entered into force today, represents support to country’s EU path, support to implementing reforms and most importantly support to policies in times of crisis.

“The assistance from the EU is a confirmation of everything we undertake as policies after it was previously confirmed by the international financial institutions. EU macro-financial assistance amounting to €100 million supports the country’s plan in coping with the energy crisis and the reforms in the process of EU integration,” Finance Minister Fatmir Besimi said.

That, as he added, is the result of the EU’s statement on North Macedonia’s government demonstrating strong commitment to implementing further reforms, focusing on key policy areas identified in the Joint Conclusions of the Economic and Financial Dialogue between the EU and the Western Balkans and Turkey of 24 May 2022.

The assistance will contribute to covering North Macedonia’s financial needs in 2023 and 2024, supporting its fiscal sustainability and structural reforms. The EU assistance is set to be paid in the form of loans, in two instalments, but depending on the policy reforms in the fields of fiscal management, tax policy, public investment management, public-private partnerships, business environment, state aid transparency, energy efficiency, judiciary reforms and fight against corruption.

It is a matter of funds under the EC package, being established in times of COVID-19 crisis. In 2020 and 2021, the EU macro-financial assistance provided to the Republic of North Macedonia, amounted to €160 million, being aimed at coping with the consequences of COVID-19 crisis.