Financial aid for Serbia, Bosnia, Armenia and Georgia

European Parliament gave its backing on Tuesday for €400 million-plus in budget aid to Serbia, Bosnia and Herzegovina, Armenia and Georgia. The funds are to help these countries to finance their external balances of payments and state budget deficits.

“Parliament’s swift and decisive action will allow the Council to adopt decisions on the four operations in the next few days”, said EU Commissioner Sim Kallas in the plenary debate on the day before the vote.

After the green light from the Council, the four countries will be entitled to receive from the EU up to: €200 million for Serbia (in the form of a loan), €100 million for Bosnia and Herzegovina (loan), €100 million for Armenia (€65 million loan, €35 million grant), and €46 million for Georgia – (grant).