Committee in European Parliament okays 100-million-euro assistance for Moldova

The International Trade Committee INTA) from within the European Parliament today has endorsed the report on yielding a loan of 100 million euros to Moldova.

The European Union may give Moldova 100 million euros in macro-financial assistance. A decision about this was made on April 13 in Brussels by ambassadors of member nations of the EU, as reported on the website of the Council of the European Union.

It is expected that of the total amount to be provided for assistance, 60 million euros will be long-term loans, and the remaining 40 million euros will be a grant, which means the money will not need to be repaid.

The funds will be used to support the economic stability of the country, carry out structural reforms, and help to cover external financial needs for the next two years.

The terms for granting EU assistance will be recorded in a memorandum of understanding, which the Moldovan government and the European Commission must subsequently sign. The conditions for receiving the funds, according to the EU Council, concern democracy and respecting both the rule of law and human rights. The memorandum will also contain provisions on the transparency of public finance management, anti-corruption, and money laundering.

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