Romanian president promulgates law on 150-million-euros loan for Moldova

Chisinau, 6 May /MOLDPRES/ - Romanian President Klaus Iohannis today signed a decree on promulgating the law for ratifying the agreement on refundable financial assistance worth 150 million euros between Romania and Moldova, according to the official website of the Romanian presidency.

The agreement was signed in Chisinau on 7 October 2015. The credit will be earmarked for a five-year-term, a 1.5-per cent annual interest rate, with disbursement in three installments; the first one estimated at 60 million euros, the second amounting to 50 million euros in 2016 and the third installment, worth 40 million euros, in 2017.

The credit is offered to Moldova, given that it has no sufficient sources to finance the budget deficit, a memorandum signed by the Romanian and Moldovan sides reads.

In late January 2016, Prime Minister Dacian Ciolos sent to his Moldovan counterpart a list comprising seven measures for creating conditions needed to transfer the first installment of 60 million euros from the 150-million-euros refundable credit.

After Klaus Iohannis had returned the law to parliament for reconsideration, the plenum of the Chamber of Deputies on 30 March ruled, with 252 pros, to reject the Romanian president's application on reconsideration concerning the ratification of the agreement on refundable financial assistance between Romania and Moldova. The MPs adopted the law with amendments. On 25 April, the plenum of Romanian Senate partially admitted the application sent to the parliament by Klaus Iohannis and kept the Article on putting conditions to Chisinau.  

(Reporter V. Bercu, editor L. Alcaza)