Moldovan cabinet rules to negotiate decreasing of Polish loan from 100 to 50 million euros

15:42 | 28.12.2016 Category: Economic

Chisinau, 28 December /MOLDPRES/ - The assistance loan worth 100 million euros, provided by the Polish government based on an agreement signed in May 2014, is to be renegotiated to 50 million euros, and the implementation period is to be extended by one year till 8 August 2017, under a decision adopted by the Moldovan cabinet today.

The loan was provided in form of goods and services within investment projects, and is to be used in line with the regulations of the Organization for Economic Cooperation and Development. The contracts are concluded by entrepreneurs with residence in Poland and importers/beneficiaries from Moldova, which are approved by finance ministries from both countries.

Although the Agreement was to expire in last August, most of the money offered has not been used because of technical problems and ones related to bureaucracy. Till July 2016, 23 files amounting to about 26.6 million euros were presented to the Finance Ministry; the files were approved by the Supervision Council of the public institution, Unit of implementing the assistance loan. So far, six files of economic agents, worth about ten million euros, have been approved by the Moldovan Finance Ministry.

The Finance Ministry of Poland approved five files of economic agents amounting to about 8.6 million euros.

The request of diminishing the sum of the loan comes from the Polish side, which took into account the list of potential beneficiaries and the value of the investment projects presented for financing. Also, at discussions with the Polish side, the loans financing conditions are to be revised, “proceeding from the situation on the financial market.”

The assistance loan was provided by the Polish government to enhance the competitiveness of Moldova’s a agricultural sector, in preferential conditions, for a an 25-year period, a 0.15-per cent annual interest rate and a five-year grace period. The credits are provided in form of deliveries of goods, equipments and services from Poland to end beneficiaries of Moldova. The conditions for re-crediting for end beneficiaries, published on the webpage of the Agency for Interventions and Payments in Agriculture, show that the loan’s maturity is up to 12 years; the grace period – up to three years and the interest – two per cent annually.

(Reporter V. Bercu, editor A. Raileanu)

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