AKIPRESS.COM - The European Commission has allocated €10 million in grants to Kyrgyzstan as part of the EU Macro-Financial Assistance (MFA) for the country.

This amount is part of the first tranche of the €30-million MFA program, which the EU approved in October 2013. This MFA takes the form of a €15-million grant and a €15-million medium-term loan. On 22 May 2015, the European Commission approved the disbursement of the loan element of €5 million of the first tranche, which will also be released shortly.

The objective of this assistance is to support the restoration of a sustainable external financial situation for Kyrgyzstan, to alleviate its balance of payments needs and thereby support its economic and social development.

These €30 million come in addition to an amount of €184 million in non-reimbursable bilateral aid granted to Kyrgyzstan for the period 2014-2020. Kyrgyzstan also receives substantial amounts of EU regional aid in the fields of border management, fight against drugs, energy, transport and higher education.