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).
Website:http://ec.europa.eu/economy_finance/eu_borrower/macro-financial_assistance/index_en.htm

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.