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Ecorys provides evaluation-related services to DG ECFIN in the field of macro-financial assistance and balance of payment support operations

18 April, 2016 - Ecorys (lead) together with the National Institute of Economic and Social Research (NIESR, UK), OGResearch (Czech Republic) and the Vienna Institute for International Economic Studies (wiiw, Austria) will collaborate on a framework contract, commissioned by the Directorate General for Economic and Financial Affairs (DG ECFIN).

Under this framework contract, the consortium will provide evaluations and evaluation-related services to DG ECFIN in relation to balance-of-payments (BOP) support provided to non-Eurozone EU Member States and macro-financial assistance (MFA) to countries that are considered to be geographically, economically and politically close to the EU. Countries that have received MFA in the last couple of years include Georgia, Kyrgyz Republic, Tunisia, Jordan and Ukraine.

The separate evaluations that will be tendered under this Framework Contact aim to inform the EC and the general public on two interrelated aspects:
- Shed light on whether the decision-making process during the design and structuring of the support operation were appropriate and justified from hindsight;
- Examine whether the result of the operation are in line with the objectives that guided the decision to grant financial assistance.
The conclusions of each evaluation should feed into a broader evidence-based learning: therefore, forward-looking recommendations will also be provided.

The evaluation looks at three core elements of the emergency balance-of-payments support provided by the EU to specific countries. First, the economic impact of the assistance is analysed, in terms of the effects it has generated in the recipient’s country economy on macroeconomic, fiscal and structural policy developments. Second, the value added of the EC intervention will be assessed, in terms of net additional effects and benefits beyond what could have been achieved with other financial assistance only. Third, the sustainability of country’s external position over medium to long-term as a result of the MFA will be analysed.

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