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The European Commission will allocate Moldova another 75 million euro grant to mitigate the socio-economic consequences of rising energy prices

The European Commission will allocate Moldova another 75 million euro grant to mitigate the socio-economic consequences of rising energy prices

The Ministry of Finance mentions that this was stipulated in the amendment No. 1, signed on 21 July, to the financing agreement between the Moldovan government and the European Commission on the state consolidation and stability contract for Moldova, signed in Brussels on 15 December 2021. The document was signed by Moldovan Finance Minister Dumitru Budianschi on behalf of the Moldovan government and Lawrence Meridith, director of the Eastern Partnership and Institutional Strengthening Department of the European Commission's Directorate General for Neighborhood Policy and Enlargement Negotiations on behalf of the European Commission. The amendment stipulates that the total amount of this budget aid will be 135 million euros, and the second tranche will be equal to 75 million euros. The funds are primarily intended to support vulnerable groups, strengthen the government's capacity to provide services to citizens, support long-term socio-economic recovery, strengthen energy security and energy transition. The total budget support offered to our country for these purposes will amount to a total of 135 million euros. The first tranche of 60 million euros was received on 24 December 2021, and the remaining amount, the second tranche of 75 million euros, will be made available after certain conditions are met. In particular, the government needs to make progress in mitigating the socio-economic impact of rising gas prices, strengthen its capacity to provide personalized services to vulnerable groups, and support socio-economic recovery. In addition, it needs to maintain macroeconomic policies aimed at achieving stability or progress in restoring key balances, make progress in implementing reforms that will improve public financial management, including domestic revenue mobilization, and make progress in making budget information available to the public. //22.07.2022 - InfoMarket.

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