Delegation of the European Union to Venezuela

European Commission provides another €30 million to support recovery of Montenegrin economy

01/06/2021 - 12:54
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The European Commission disbursed today €30 million in the form of highly favourable loans, intended for limiting the economic fallout of the COVID-19 epidemic in Montenegro.

This is the second and final tranche of the support available to Montenegro within of the Macro-Financial Assistance Programme worth a total of €60 million, after the first instalment of €30 million was disbursed in October 2020. Today's payment of €30 million was made after the Commission established that Montenegro has implemented important measures in the areas of public finance management, financial stability, good governance and fight against corruption, business environment, and social protection.

This form of support complements the previously approved €55 million in grants, which the European Union provided to Montenegro for the procurement of urgent medical equipment and for assisting the socially underprivileged individuals, entrepreneurs, companies, the health sector and other sectors that have been most seriously affected by the COVID-19 crisis.

"The EU's financial support is helping protect the health and save the jobs of thousands of Montenegrin citizens. Since the outbreak of the COVID-19 pandemic, we have provided over €115 million in grants and favourable loans. We donated 100 respirators and over 1 million pieces of protective health equipment, while EU money will be used for building two new clinics and refurbishing numerous laboratories in the country. Today's payment of the second tranche of the EU's macro-financial assistance to Montenegro is yet another confirmation that we stand with Montenegro in solidarity in good times and bad," said EU Ambassador to Montenegro Oana Cristina Popa.

The Macro-Financial Assistance Programme for Montenegro is part of a €3 billion MFA package that the Commission proposed for ten enlargement and neighbourhood partners to help them limit the economic fallout of the coronavirus pandemic.

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