The second 50 million euros tranche of the EU macro-financial assistance might enter the state budget of Moldova in late September 2021.
This was discussed at the meeting of Prime Minister Natalia Gavrilita with the head of the EU Delegation to our country Peter Michalko, as she reported in one of the social networks. Gavrilita said that she thanked Peter Michalko for promoting European values in our country and the constant support that the European Union provides to Moldova by implementing numerous development projects. She wrote that the meeting discussed the planned actions of the government to receive the second 50 million euros tranche of the EU macro-financial assistance to the state budget at the end of September, as well as updating the agenda of the Association Agreement. As InfoMarket previously reported, Deputy Director-General for Neighborhood Policy and Enlargement Negotiations Katariná Mathernová said at a joint press conference in Chisinau with Moldovan President Maia Sandu that Moldova could receive the second tranche of the EU macro-financial assistance in mid-September, 2021. She recalled that in order to receive these funds, the Parliament of Moldova needs to adopt several laws concerning changes in customs legislation and provisions on the National Integrity Authority. Charles Michel, President of the European Council, also announced that the EU will provide Moldova with 50 million euros as the second tranche of emergency macro-financial assistance after the fulfillment of mutually agreed conditions. Let us remind that the Agreement on New EU Macro-Financial Assistance for Moldova (OMNIBUS) was signed on July 21, 2020 and envisages the provision to our country of a concessional loan of 100 million euros, which will be allocated in two equal parts - 50 million euros each - in the 2020-2021 biennium The loan has a maturity of 15 years with the same grace period. It will be repaid in one tranche. The interest rate on the loan depends on the cost at which the European Commission will borrow money in the international financial market. Interest will be paid by Moldova annually. The aim of the EU macro-financial assistance is to solve the problems with external financing of the country, to cover budgetary needs, to consolidate foreign exchange reserves and to support Moldova in eliminating external vulnerabilities. At the same time, EU assistance complements the resources provided to our country by international financial institutions and bilateral creditors in support of economic stabilization and the authorities' reform program. The second tranche to Moldova under the new EU macro-financial emergency assistance called OMNIBUS is subject to the fulfillment of six important conditions in the areas of improving the business climate, good governance, anti-corruption, public finance management, as well as the existence of an active financing program with the International Monetary Fund. Moldova received the first 50 million euros tranche of this extraordinary macro-financial assistance from the EU in late November 2020. // 09.08.2021 - InfoMarket
