The European Commission allocates to Moldova the second tranche of macro-financial assistance in the amount of 50 million euros from a total package of 150 million euros.
This was reported by the press service of the European Commission, noting that at the same time, within this second tranche, on April 5, Moldova already received a grant of 10 million euros, and in early May another 40 million euros will be paid in the form of a loan. It is emphasized that this is an important EU assistance to one of the countries most directly and strongly affected by the war in Ukraine. The European Commission expects that financial support will help Moldova meet its urgent funding needs and support overall macroeconomic stability, as well as allow for wide-ranging and ambitious reforms. The second tranche of macro-financial assistance in the amount of 50 million euros was provided after the European Commission concluded that Moldova had complied with the political conditions agreed with the EU for the release of this payment. As noted, Moldova has strengthened the management of the public sector by taking measures to improve the management of public investment projects. The government has made progress in managing the financial sector by adopting a new public finance management strategy. The Moldovan authorities have also made progress in strengthening the rule of law, filling leadership positions in several anti-corruption institutions. Parliament also adopted a new program for the return of assets obtained by criminal means. The current assistance is part of a broader EU effort to support Moldova in response to the many challenges that have arisen in recent years. The European Commission has already paid Moldova 50 million euros as the first tranche in August 2022. In January this year, the European Commission also proposed to increase the current macro-financial assistance to Moldova by 145 million euros. This proposal is currently under consideration by the European Parliament and the EU Council. As InfoMarket agency previously reported, a new EU macro-financial assistance package for Moldova came into force on July 18, 2022 and envisaged for the provision of 150 million euros, including 120 million euros of concessional loans and 30 million euros of grants. The European Commission proposed to subsequently increase macro-financial assistance to Moldova by 145 million euros - up to 295 million euros. It is planned that up to 45 million euros of additional assistance will be provided in the form of grants, and up to 100 million euros - in the form of soft loans. The amount is to be paid in two additional installments scheduled for Q3 and Q4 2023, subject to the agreed conditions. // 05.04.2023 — InfoMarket.
