Press Release: Macro-financial assistance: Commission proposes €100 million to Armenia and €46 million for Georgia

The European Commission proposed to the Council to provide macro-financial assistance (MFA) to Armenia in the form of a loan of up to €65 million and a grant of up to €35 million. Separately, it proposed €46 million in grants to Georgia, also under the European Union's MFA programme. The assistance will support the adjustment programme agreed between Armenia and the International Monetary Fund to help the country through the global crisis. In the case of Georgia, the assistance 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.