Moldovan government approves initiation of negotiations on 150 million euros reimbursable loan offered by Romania

16:23 | 23.09.2015 Category: Economic

Chisinau, 23 September /MOLDPRES/ - The Cabinet today approved a decision on initiating negotiations on the draft of the loan agreement between the Moldovan and Romanian governments.

The terms of the agreement on the financial assistance worth 150 million euros, refundable over a period of five years, were discussed at the joint meeting of Cabinets of the two countries on 22 September. According to the conclusions the sides reached, the annual interest rate of the loan will be 1.5 per cent. The first instalment, amounting to 60 million lei, will be offered in 2015.

Romania decided to grant the credit under very advantageous conditions, in a difficult period for Moldova, financially and in terms of budget, till the moment Moldova will sign an agreement with international financial institutions, the International Monetary Fund, World Bank and The European Commission.

The money will be used to reanimate investment projects, which had been temporarily halted, since budget support from development partners was suspended.

The Romanian and Moldovan parliaments will subsequently discuss the agreement made between the two governments.

(Reporter V. Bercu, Editor A. Raileanu)

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