Moldova to start negotiation of 100-million-euros-worth loan on behalf of EU

09:12 | 09.07.2020 Category: Economic

Chisinau, 9 July /MOLDPRES/ - The government on 8 July approved the starting of negotiations and approval of the signing of an agreement on loan between Moldova and European Union on macro-financial assistance for Moldova amounting to up to 100 million euros.

Under the document, the loan is to be provided in two equal installments. The disbursement of the first installment is conditioned by the signing of the Memorandum of Understanding, while the second installment will depend on the progress made in the implementation of the Memorandum’s provisions. Six actions are suggested to be carried out for the disbursement of the second installment.

The duration of the loan’s providing is 12 months at the most and its maturity is of 15 years at the most. The loan’s repayment will take place in a single payment. The interest rate applied for each installment will depend on the cost at which the European Commission will borrow the money on the international financial market.

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