The European Commission transferred to Moldova the first tranche in the amount of 50 million euros out of 150 million euros of macro-financial assistance, which was approved by the European Parliament in spring.
According to MEP Siegfried Muresan on social networks, within the first tranche, Moldova will receive 35 million euros in the form of a loan on favorable terms and 15 million lei will be grants. He recalled that macro-financial assistance of 150 million euros was approved by the European Union to help Moldova cover part of the financial needs arising from the management of the migration crisis, the energy crisis and other consequences of the war in Ukraine, as well as the COVID-19 pandemic. “Aid payments are strictly conditional on the smooth operation of the program with the International Monetary Fund, as well as progress in key areas agreed with the EU, such as the fight against corruption, the rule of law, good economic governance or energy independence. The fact that the European Commission has already allocated the first tranche of macro-financial assistance shows that the Chisinau authorities have done their job and that progress is being made in these areas,” Muresan said. He stressed that new proposals of the European Commission on assistance to Moldova are expected and the European Parliament will approve them as quickly as the macro-financial assistance. Recall that the memorandum-agreement between Moldova and the EU on macro-financial assistance provides a list of 15 conditions that the country will have to fulfill in order to receive assistance. The money is planned to be disbursed in three equal tranches of EUR 50 million each: the first tranche will consist of a EUR 35 million loan and a EUR 15 million grant, the second tranche of a EUR 40 million loan and a EUR 10 million grant, and the third tranche of a EUR 45 million loan and a EUR 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 implementation of 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 and third tranches. 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. Earlier, Finance Minister Dumitru Budianschi said that, according to rough estimates, the interest rate on all tranches of macro-financial assistance would be 1.5%. In this case, in addition to the principal amount of the loan, Moldova will return 26 million euros in the form of interest for the entire period, but given that the country will receive 30 million euros in the form of a grant, the loan will be, in fact, interest-free.// 01.08.2022 — InfoMarket
