Macro-financial assistance (MFA)
|MFF heading:||4) Global Europe|
|Funds:||Macro-financial assistance (MFA)|
|Policy supported:||Economic and Financial Affairs|
|2014-2020 MFF ceiling:|
|Managing Member States:||Eligible countries are non-EU countries geographically, economically and politically close to the EU (candidate and potential candidate countries, countries covered by the European Neighbourhood Policy and, in some cases, other third countries).|
|Managing Directorate-General:||Directorate-General for Economic and Financial Affairs (DG ECFIN).|
The decision to grant MFA to a third country is proposed by the Commission and then approved by the European Parliament and the Council. The amount of the aid granted is decided on a case-by-case basis by the EU in consultation with international financial institutions. Certain conditions, such as the respect of human rights, have to be met. A Memorandum of Understanding is signed between the EU and the beneficiary country.The aid usually takes the form of a loan and, in somecases, of a grant.