European Union Council approves macro-financial assistance for Moldova

16:05 | 15.06.2017 Category: Official

Chisinau, 15 June /MOLDPRES/ – The EU ambassadors approved the agreement with the European Parliament on macro-financial assistance to Moldova today. The assistance will be provided to support Moldova’s economic stabilization and structural reform agenda, helping to cover its external financing needs in 2017-2018, the government’s communication and protocol department has reported.

From total assistance of €100 million, €40 million were agreed in the form of a grant and €60 million as a loan. These funds will complement the resources provided by the International Monetary Fund (IMF) and other multilateral institutions.

The decision to grant financial assistance amounting to €100 million is due to be examined in the European Parliament on 5 July. Afterwards, the Commission and the European External Action Service will monitor compliance with the preconditions set for Moldova and it will be decided whether to allocate the first tranche or not, on the basis of conclusions.

The prerequisites include ensuring transparency and accountability in managing public finances and strengthening institutional capacity.

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