
Moldova might receive the second tranche of the EU macro-financial assistance in mid-September this year, the European Commission stated.
This was announced by the European Commission's Deputy Director-General for Neighborhood Policy and Enlargement Negotiations Katariná Mathernová at a joint press conference in Chisinau with Moldovan President Maia Sandu. She did not name the exact amount, but recalled that in order to receive these funds, the Parliament of Moldova needs to adopt several laws concerning changes in customs legislation and provisions on the National Integrity Authority. Earlier, the President of the European Council Charles Michel said that the EU will provide Moldova with 50 million euros as the second tranche of emergency macro-financial assistance after the fulfillment of mutually agreed conditions. He recalled that our country previously received the first 50 million euros tranche of this extraordinary EU macro-financial assistance at the end of November 2020. As InfoMarket reported earlier, the Agreement on New EU Macro-Financial Assistance for Moldova (Omnibus) was signed on July 21, 2020 and envisages the provision of a concessional loan of 100 million euros to our country in two equal parts - 50 million euros each - in 2020-2021. The loan will be repaid within 15 years with the same grace period. The loan will be repaid in one tranche. The interest rate on the loan depends on the cost at which the European Commission will borrow money in the international financial market. Interest will be paid by Moldova annually. The aim of the EU macro-financial assistance is to solve the problems with external financing of the country, to cover budgetary needs, to strengthen the position with foreign exchange reserves and to support Moldova in eliminating external vulnerabilities. At the same time, EU assistance complements the resources provided to our country by international financial institutions and bilateral lenders in support of economic stabilization and the authorities' reform program. The allocation of the second tranche to Moldova under the new EU macro-financial emergency assistance called OMNIBUS is conditioned by the fulfillment of 6 important conditions in the field of improving the business climate, good governance, anti-corruption, public financial management, as well as the existence of an active financing program with the IMF. // 04.06.2021 – InfoMarket