Moldovan parliament ratifies memorandum on macro-financial assistance 150 million euros on behalf of EU
11:29 | 14.07.2022 Category: Economic
Chisinau, 14 July /MOLDPRES/ - The parliament today ratified a memorandum of understanding between Moldova and the European Union on macro-financial assistance worth 150 million euros for Moldova.
The EU’s macro-financial assistance has two components: 30 million euros – as grant and 120 million euros – loan. The financial aid will be provided, in order to cover Moldova’s budgetary needs and is complementary to the resources provided by international financial institutions and donors for the country’s reform programme. The key fields of the reforms financed are the energy sector, fighting corruption, rule of law state, governance of the financial and public sector, business climate. The financial assistance will be available during two years and a half and will be disbursed in three instalments during 2022-2024.
At the same time, the parliament ratified the agreement on grant on the macro-financial assistance for the sum of 30 million euros and the agreement on facilitation of loan between Moldova, EU and the National Bank of Moldova for the sum of 120 million euros.
The European Parliament and the EU Council on 6 April 2022 adopted the decision on the providing of macro-financial assistance to Moldova, in the context of the consequences triggered by Russia’s invasion in Ukraine, as well as of the management of the gas crisis and economic recovery following the Covid-19 pandemic. The memorandum of understanding between Moldova and EU was signed in Brussels on 22 June this year.