Moldova will receive new macro-financial assistance from the EU in the amount of 150 million euros, of which 30 million euros will be grants, and 120 million - concessional loans.
This is provided for by a corresponding agreement on macro-financial assistance between the European Union and the National Bank of Moldova, the start of negotiations on which and the subsequent signing of this document was approved by the government at a meeting on Wednesday. Finance Minister Dumitru Budianschi and President of the National Bank Octavian Armasu received the authority to sign the agreement. It should be noted that on April 6, the European Parliament and the Council of the European Union decided to provide additional macro-financial assistance to Moldova in the context of the impact of the war in Ukraine, in particular, to restore the economy affected by the consequences of the war and the pandemic, as well as to manage the gas crisis that began in October 2021. The memorandum-agreement between the Republic of Moldova and the EU on macro-financial assistance will provide a list of conditions that the country will have to fulfill in order to receive EU assistance. The money is planned to be disbursed in three tranches of €50 million, with the first tranche expected to consist of a €35 million loan and a €15 million grant, the second a €40 million loan and a €10 million grant, and the third tranche of €45 million loan and 5 million euro grant. EU financial assistance will be provided in 2022-2024, starting from the first day after the entry into force of the Memorandum of Understanding. The allocation of tranches will depend on the progress in fulfilling the provisions of the memorandum and other agreements between the Republic of Moldova and the EU. There are 3 conditions for the first tranche, 6 conditions for the second tranche, and 6 conditions for the third tranche. Macro-financial assistance will contribute to the economic recovery of Moldova by promoting a set of policies. Major reforms on the energy sector, anti-corruption, the rule of law and the business climate. The money will also be used to cover the budgetary needs of our country. Preferential loans within the framework of EU macro-financial assistance will be allocated to Moldova for a period of 15 years, and the interest rate for each tranche will depend on the cost of the European Commission's borrowings in the international financial market.// 01.06.2022 — InfoMarket
