As part of the fight against the global spread of COVID-19, the European Union (EU) has decided to financially support 10 of its “neighborhood policy” partners, so that they can cope with the economic repercussions. of the health crisis. The € 3 billion aid will be available for 12 months.
This aid is part of the “Team Europe” plan, which is a collective action bringing together the EU, its financial institutions and international partner organizations, intended to support the most vulnerable countries and populations.
This is how Tunisia will benefit from macroeconomic assistance of up to 600 million euros intended to limit the economic damage caused by the Covid-19 pandemic. The payment will be made in 2 installments. On the one hand, it will take place when the agreement is signed in June, and on the other hand it will be paid in the fourth quarter of 2020.
Macroeconomic assistance is an exceptional financial instrument which forms part of the support in the event of a major crisis that the EU has committed to provide to neighboring countries. In order to benefit, the latter must face balance of payments difficulties, fulfill certain conditions in terms of respect for democratic principles and the rule of law and benefit from an IMF financial assistance program.
Source: European Commission; April 23, 2020. https://ec.europa.eu/commission/presscorner/detail/en/IP_20_716