Brussels, 26/01/2016 (Agence Europe) - On Tuesday 26 January, the European Commission approved the release of €15 million as part of the EU's macro-financial assistance for the Kyrgyz Republic.
€10 million will be paid in loans and €5 million in subsidies from this €15 million, the second part of a €30 million programme. The first part of the programme was disbursed in two tranches, with €10 million in subsidies in June, and a second tranche of €5 million, in the form of loans, in October. The objective of this assistance is to support the restoration of a sustainable external financial situation for Kyrgyzstan, to alleviate its balance of payments needs and thus support its economic and social development.
“The EU is committed to supporting the stability, democratic transition and sustainable development of the Kyrgyz Republic. Macro-financial assistance provided by the EU helps Kyrgyzstan face the challenges of the difficult economic situation in the region”, said European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici. (Original version in French by Camille-Cerise Gessant)