Memorandum with EU on macro-financial assistance to be published in Moldova's Official Journal

Chisinau, 17 September /MOLDPRES/ - The decree on promulgation and the law on the ratification of the Memorandum of Understanding between Moldova and the European Union on macro-financial assistance for Moldova will be published in the 18 September issue of the Official Journal.

The goal of the macro-financial assistance worth 100 million euros is to attenuate the country’s budgetary needs and help Moldova approach the present external and financial vulnerabilities.

The memorandum contains six conditions in such sectors as: business climate, good governance, fight against corruption and management of public money. As a result of the fulfillment of the conditions included in the memorandum, Moldova will spend financial resources in two installments. The duration of the loan’s providing is 12 months at the most and the credit is to be paid on the period 2020-2021.    

The payment of the first installment is unconditional, while the second installment will depend on the progress due to be recorded in the implementation of the memorandum’s provisions. The loan will be provided for a repayment period of 15 years at the most and the interest rate will depend on the cost the European Commission is to borrow money on the international financial market.   

The Memorandum of Understanding between Moldova and EU on macro-financial assistance worth up to 100 million euros for Moldova was signed in Chisinau on 21 July 2020 and in Brussels on 23 July 2020.