Agreements on loan provided by IMF, Russia to Moldova to be proposed to parliament for consideration

Chisinau, 22 April /MOLDPRES/ - The parliament’s commission for economy, budget and finances will propose the ratification of the agreement between the Moldovan government and the International Monetary Fund on the emergency loan, as well as the agreement on financial loan on behalf of Russia to parliament’s plenum.   

The draft on the ratification of the agreement with IMF today was unanimously backed in commission for two readings. The loan has two components and amounts to 234 million dollars. The money will be used for financing the state budget deficit.   

At the same time, through rapid finance instrument, Moldova will attract a loan worth about 156 million dollars.  The interest is of 1.5 per cent, with a grace period of 3 years and 3 months and a return period of 1 year and 9 months. The loan’s maturity is 5 years. Additionally, Moldova will pay a commission of 0.5 per cent of this sum. Through the rapid credit facility, Moldova will access a loan worth about 78 million dollars from IMF. The interest is 0 per cent, with a grace period of 5 years and 6 months. The loan’s maturity is of 10 years. The draft is to be discussed in parliament’s plenum.    

Also today, the commission supported a draft on the ratification of the agreement on loan worth 200 million euros on behalf of Russia. The financial means will be used for the implementation of investment projects. According to the agreement, the sum of 200 million euros will be disbursed in two installments worth 100 million euros each during 2020. The first installment might be accessed not later than in 30 days after the agreement’s entrance into force.    

The interest rate for the loan is 2 per cent annually. The loan’s maturity is of 11 years, with a grace period of about 1 year and with possibility of return before term. The payment of the interest will be semi-annual for each installment.  

The agreement between the governments of Russia and Moldova on the providing of a state financial loan was signed by Moldovan Ambassador to Russia Andrei Neguta in Moscow on 17 April 2020, based on the powers provided by Foreign Affairs and European Integration Minister Oleg Tulea.