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EU disburses 125 mln euro to Bosnia under Covid-19 MFA

EU disburses 125 mln euro to Bosnia under Covid-19 MFA EU Commission headquarters in Brussels; Author: Radomir Ralev

SARAJEVO (Bosnia and Herzegovina), October 8 (SeeNews) - The European Commission said on Friday it has disbursed 125 million euro ($144.5 million) in macro-financial assistance (MFA) to Bosnia intended to mitigate the economic fallout from the Covid-19 pandemic.

This is the first tranche of MFA agreed under a Memorandum of Understanding (MoU) which lays out measures for the improvement of economic governance, financial sector stability, transparency and fight against corruption and the functioning of the labour market in Bosnia and Herzegovina, the Commission said in a statement.

The second and final tranche of 125 million euro will be subject to the implementation of these policy measures.

The disbursement is part of a 3 billion euro MFA package agreed between the European Union and ten enlargement and neighbourhood partners. The financial support is extended through loans at favourable rates.

($ = 0.8650 euro)