The European Commission will pay Moldova 72.5 million euros in loans and grants under the current macro-financial assistance package by the end of October.
The European Commission announced this, noting that on October 25, Moldova has already received a 50-million-euro loan under this assistance, while an additional payment in grants worth 22.5 million euros will be made by the end of the month. It was emphasized that this assistance provides further support to Moldova, whose economy has been seriously hit by the consequences of Russia's invasion of Ukraine and which is still facing problems related to energy security. It will help the country cover part of its additional financing needs in 2023, support macroeconomic stability, and provide further reforms in conjunction with the IMF's ongoing program for Moldova. It will also help Moldova advance on its European path. This assistance is allocated after the European Commission found that Moldova has met the relevant political commitments agreed with the EU. Moldova has made progress in improving energy security by adopting a special action plan for the coming winter. This is particularly important given the ongoing challenges related to energy security in the country. Moldova also strengthened public sector governance and advanced in the area of the rule of law, proving progress in filling positions in the Superior Council of Magistracy and the Superior Council of Prosecutors. In addition, Moldova took important steps to improve the country's business climate by adopting a new entrepreneurship program and a digitalization strategy. The total value of the ongoing EU macro-financial assistance operation to Moldova is 295 million euros, of which 220 million euros in loans and 75 million euros in grants. This includes an additional assistance of 145 million euros, adopted by the European Parliament and the Council in June, of which 72.5 million euros are to be disbursed to Moldova by the end of October. By the end of the month, Moldova will have already received a total of 172.5 million euros under this operation. Further disbursements will be made depending on the progress in the fulfillment of the agreed policy conditions. //25.10.2023 - InfoMarket.
