First installment of EU's loan agreement reaches account of Moldova's Finance Ministry

18:22 | 25.11.2020 Category: Economic

Chisinau, 25 November /MOLDPRES/- Moldova has received the first installment of 51.62 million euros from the agreement on loan between Moldova and the European Union on Macro-financial Assistance (Omnibus), signed by the sides on 21 July 2020, according to the Finance Ministry.

„The goal of this loan is to diminish the constraints of the country’s foreign financing, attenuate the balance of payments and the budget’s needs, as well as to back Moldova in the present difficult situation,’’ sources from the ministry said.

The duration of the loan’s providing is 12 months at the most and its maturity is 15 years at the most.

The loan’s reimbursement will take place in a single payment. The interest applied for each installment will depend on the cost the European Commission is to borrow money on the international financial market.

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