The EU agrees to support North Macedonia with € 80 million to help overcome the coronavirus crisis

The European Union signed a grant agreement with Northern Macedonia on Thursday, which will provide the country with € 80 million in support of overcoming the economic effects of the coronavirus crisis in exchange for tax reforms to combat corruption and improve transparency.

The aid takes the form of long-term loans, which are offered on “very advantageous” terms, and is the first installment of a more comprehensive package of 160 million euros, the community leader said in a statement.

The rest of the payout will be contingent on North Macedonia’s compliance with the 27 reforms agreed, which include improving fiscal transparency, fighting corruption, strengthening financial sector supervision and tackling youth unemployment. .

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