16/07/2020 (Agence Europe) – On Thursday 16 July, the European Commission signed a Memorandum of Understanding with North Macedonia, paving the way for the disbursement of €80 million to the country as part of total macrofinancial assistance worth €160 million over one year. The European Union's assistance will take the form of long-term loans granted on particularly favourable terms. This funding will help create fiscal space to mitigate the socio-economic consequences of the Covid-19 pandemic within the country. Disbursement of the last amount is conditional on the implementation of measures (the fight against corruption, increased supervision of the financial sector, fight against youth unemployment). This protocol is the first to be signed under the framework of the €3 billion macroeconomic assistance to ten enlargement and neighbourhood countries (see EUROPE 12472/7). (MB)