The European Parliament approved the allocation of new EU macro-financial assistance to Moldova in the amount of 150 million euros.
Member of the European Parliament, Chairman of the European Parliament Delegation to the Parliamentary Association Committee European Union - Moldova Siegfried Mureşan wrote about this on his social media page, noting that the provision of this macro-financial assistance to our country was approved at the plenary session of the European Parliament on Thursday by an overwhelming majority: 558 votes “for'' with 10 abstentions and 20 against. Siegfried Murešan recalled that the EU macro-financial assistance to Moldova consists of medium-term loans in the amount of 120 million euros, allocated on favorable terms, as well as grants in the amount of 30 million euros. Assistance will be allocated in three parts in 2022-2024. It is planned that the first tranche of this assistance will go to Moldova as soon as possible. As European Commissioner for the Economy Paolo Gentiloni said earlier, after the European Commission approved a new €150 million macro-financial assistance to Moldova, the European Commission continues to support Moldova during this particularly difficult time, and, along with the new IMF program, this proposed new macro-financial assistance will provide: grants and loans at favorable rates. As always, this funding will depend on the fulfillment of political commitments to address some of the most pressing issues affecting Moldova's economic development. The new EU macro-financial assistance program will help Moldova cover part of its external financing needs for the next 2 years. Thus, the transaction will help reduce short-term balance of payments and fiscal vulnerabilities. Disbursements under the proposed new EU macro-financial assistance package will be strictly contingent on good progress in the IMF program and on the fulfillment of specific policy conditions to be agreed between Moldova and the EU in a Memorandum of Understanding. These policy conditions will address some of the fundamental weaknesses identified in recent years in the Moldovan economy and economic governance, as well as in other key areas, including good governance and anti-corruption, the rule of law, and energy security. Conditions will be in line with Moldova's commitments under the program agreed with the IMF and the World Bank, as well as operations to support the EU budget and Moldova's deep and comprehensive free trade agreement with the EU (DCFTA). // 24.03.2022 — InfoMarket
