Azerbaijan, Baku, Oct. 17 / Trend , E.Ostapenko/
The European Commission proposed to the Council of the European Union (EU) to provide macro-financial assistance (MFA) to Georgia in the form of a grant of up to €46 million, the EU released.
The assistance to Georgia is part of an EU package of up to €500 million to support Georgia's economic recovery in the aftermath of the conflict with Russia, and will support the adjustment programme agreed with the IMF.
MFA is an exceptional EU crisis response instrument available to EU neighbours. It is conditional and complements assistance by the IMF.
MFA loans are financed through EU borrowings on the market. The money is lent with similar financial terms. MFA grants are financed under the EU's budget. The European Parliament is consulted.
Do you have any feedback? Contact our journalist at trend@trend.az
Do you have any feedback? Contact our journalist at agency@trend.az
