European Commission provides €72.5 million in financial support to Moldova

Chisinau, July 9 /MOLDPRES/- European Commission is granting Moldova financial support worth 72.5 million euros. The support is provided after the Commission concluded that our country has met the policy conditions agreed with the EU for the disbursement. This financial support will help Moldova cover part of its financing needs for 2024 and support macro-economic stability while allowing reforms to continue.

Thus, today the Commission is providing Moldova with a €50 million loan on favorable terms. A further payment of €22.5 million in grants will follow by the end of this month.

This is the fourth instalment under the ongoing macro-financial assistance to Moldova. It comes after the Commission concluded that the country has fulfilled the policy conditions agreed with the EU for the disbursement. "In particular, Moldova has improved public sector governance and strengthened the independence of the National Bank of Moldova. Moldova has also reinforced the rule of law by adopting a law on extraordinary evaluation (full vetting) of judges. Progress has also been made in fighting corruption through better cooperation between anti-corruption and law enforcement bodies. The country has also taken steps to support renewable energy and reformed the Customs Code, which is now fully aligned to the EU Customs Code. In addition, Moldova adopted a National Strategy for Economic Development, providing an ambitious vision to steer its economic policies until 2030," the European Commission said.

The macro-financial assistance is part of wider EU effort to support Moldova in the wake of many challenges over the last years. The support amounts to €295 million.