The European Council approved 100 million euros for Kosovo

100 million euros have been approved for Kosovo by the European Council on Wednesday, as part of an aid package in the amount of three billion euros, to help EU candidate countries and neighbors in the Eastern and Southern Partnership, previously proposed by the European Commission .

The money from the so-called "Rapid Financing Instrument" is intended for the economies of ten countries, in order to help them cope with the economic consequences of the COVID-19 pandemic.

Financial assistance will be provided in the form of loans from the International Monetary Fund, under favorable conditions.

Of this amount, 100 million euros have been allocated for Kosovo, 60 million euros for Montenegro, 160 million euros for North Macedonia, 250 million euros for Bosnia and 180 million euros for Albania.

The money is also planned to help other countries, so 150 million euros are intended for Georgia, 200 million for Jordan, 100 million for Moldova, 600 million for Tunisia and 1.2 billion euros for Ukraine.

EU assistance from this program will serve the countries that have accepted it to cover the additional financial requirements that were created due to the outbreak of the coronavirus pandemic, and it will be available to them in the next 12 months.

"These funds will contribute to strengthening macroeconomic stability and creating space for directing resources to protect citizens and mitigate the negative socio-economic consequences of the pandemic," the European Council announced.