Moldova will get a concessional loan of 15 million euros from the French Development Agency to cover the state budget deficit.
This is stipulated in the relevant loan agreement, the signing of which was approved by the Moldovan government at a meeting on Wednesday, while granting the relevant powers to Minister of Finance Dumitru Budianschi. The document is expected to be signed by the parties in the afternoon today during the visit of French President Emmanuel Macron to Moldova. The Finance Minister said that, in the context of the energy crisis and significant price increases, as well as the impact of the war in Ukraine on the Moldovan economy, the Ministry of Finance asked the French Development Agency on March 24 this year to consider providing urgent financial assistance of 15 million euros on concessional conditions to cover the budget deficit. During the negotiations, the parties agreed that the loan will be granted by the French Development Agency in one tranche for 15 years with a 5-year repayment vacation. The interest rate will be 1.38% per annum. The money is not due until November 30. These funds will be used to finance state budget needs, including health care, education, and social assistance services. // 15.06.2022 - InfoMarket
