Press Release: Commissioner Moscovici signs Memorandum of Understanding on Macro-Financial Assistance for Georgia

Georgia could count on continuing support from the European Union. Pierre Moscovici, the European Commissioner for Economic and Financial Affairs, Taxation and Customs, signed on the 11 December 2014 the Memorandum of Understanding for a €46 million Macro-Financial Assistance (MFA) programme to Georgia. The assistance would be distributed evenly between grants and loans and would be disbursed in two equal tranches in 2015. The MFA programme was intended to strengthen Georgia's balance of payments and budgetary position and to support reforms aimed at reinforcing economic governance, increasing social inclusiveness and promoting closer economic integration with the European Union.

• Primary Source

European Commission: DG Economic and Fianncial Affairs: The EU as a borrower: Macro-Financial Assistance to non-EU countries http://ec.europa.eu/economy_finance/eu_borrower/macro-financial_assistance/index_en.htm

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