Moldovan cabinet approves draft law on ratification of 150-million-euros-worth loan

16:27 | 07.10.2015 Category: Economic

Chisinau, 7 October /MOLDPRES/- The cabinet today approved a draft law on a loan agreement signed between the Moldovan and Romanian governments. The agreement on the reimbursable loan was concluded in the delegation's hall of the Chisinau International Airport today morning.

The document was signed by Deputy Prime Minister, Foreign and European Integration Minister Natalia Gherman and Romanian Public Finance Minister Eugen Orlando Teodorovici.

The government of Romania will provide Moldova with a loan amounting to 150 million euros as budgetary support. The first 60-million-euros-worth installment will be given this year. The loan is provided for a five-year period, with an interest rate of 1.5 per cent annually. The money was lent, given that Moldova has not signed a loan agreement with the International Monetary Fund for the time being.

The money is meant basically to cover the budget deficit. The loan agreement is to be ratified by the parliament, after it enters into force.

(Reporter V. Bercu, editor A.Raileanu)

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