BISHKEK (TCA) — The European Commission has approved the release of EUR 15 million as part of the EU’s Macro-Financial Assistance (MFA) programme for the Kyrgyz Republic, the Delegation of the European Union to the Kyrgyz Republic said on January 27.
The payment consists of EUR 5 million in grants and EUR 10 million in loans, and is the second and final part of a EUR 30 million MFA programme.
Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxations and Customs, said: “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.”
The objective of this assistance is to support the restoration of a sustainable external financial situation for the Kyrgyz Republic, to alleviate its balance of payments needs and thereby support its economic and social development.
The first EUR 15 million in this MFA programme to Kyrgyzstan were disbursed in two installments, EUR 10 million in grants on 11 June and EUR 5 million in loans on 15 October 2015.
In 2015, bilateral EU assistance to Kyrgyzstan amounted to a total of EUR 34.6 million in grants (including MFA and development assistance), the highest amount the European Union has ever disbursed to the Kyrgyz Republic.
