EU ambassadors endorse agreement on micro-financial assistance for Moldova

Chisinau, 15 June /MOLDPRES/ - The EU ambassadors today endorsed an agreement reached with the European Parliament on macro-financial assistance for Moldova.

Up to 100 million euros is provided for in EU assistance under an agreement reached by presidency and EP representatives on 6 June 2017. Of this, 60 million euros was agreed in loans and 40 million euros in the form of grants. This will supplement resources provided by the IMF and other multilateral institutions, the press release reads.

According to the communiqué, the assistance will be aimed at supporting the country's economic stabilization and structural reform agenda, helping to cover its external financing needs over the 2017-18 period.

The EU assistance will be subject to a memorandum of understanding, including precise and specific conditions, to be agreed by Moldova with the Commission.

Parliament, Council and Commission agreed a joint statement in the light of changes to the electoral system in the Republic of Moldova. The statement emphasises that respect for effective democratic mechanisms, including a multi-party parliamentary system and the rule of law, and guarantees for human rights are a precondition for receiving assistance.

Objectives specified in the decision also include the efficiency, transparency and accountability of public finance management, an effective prevention of corruption and money laundering, and financial sector governance and supervision.

The Commission and the European External Action Service will regularly monitor the fulfilment of these preconditions and objectives.

The Parliament and the Council will now be called on to adopt the decision without further discussion, the official communiqué also reads.    

(Reporter V. Bercu, editor M. Jantovan)