The European Commission has approved the disbursement of €30 million for Moldova

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Posted by: Mazur Rodica

News / Economic

10 July 2020 / 14:30

The European Commission has approved the disbursement of €30 million for Moldova

The European Commission, on behalf of the European Union (EU), today approved the disbursement of €30 million of macro-financial assistance to the Republic of Moldova.

Paolo Gentiloni, the commissioner for the economy, said: "Today, the EU approved another €30 million in financial assistance to help Moldova cope with the economic shock caused by the Coronavirus pandemic. The EU is with the citizens of Moldova in these difficult times. I would also like to congratulate Moldova on its efforts to carry out reforms, for example in improving the justice system and fighting corruption."

"I welcome the EU's decision to disburse the second tranche of the €30 million macro-financial assistance program. The EU's assistance to our country is highly appreciated. This decision confirms the efforts made by the Republic of Moldova in fulfilling the commitments assumed in the relationship with the European Union," said the Minister of Foreign Affairs and European Integration in Moldova, Oleg Ţulea.

This is the second and last tranche of the current macro-financial assistance program for Moldova, the first tranche worth €30 million being granted in October 2019. The second tranche consists of €10 million in the form of a grant and €20 million in the form of a long-term, low-interest loan, the European Commission said in a statement.

The program is intended to help Moldova meet its external financing needs, which is particularly important in the context of the Coronavirus pandemic, while implementing a broad and ambitious reform agenda.

The disbursement aims at fulfilling the political commitments agreed with the EU, as stipulated in the Memorandum of Understanding. These included important measures in the areas of financial sector, public sector governance, the fight against corruption and money laundering, energy and the business climate, and the implementation of the Deep and Comprehensive Free Trade Area (DCFTA).

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