The European Union will provide Moldova an aid worth 100 million euros to overcome the economic crisis caused by the coronavirus pandemic. The proposal was adopted by the Commission today as a part of the ‘Team Europe' strategy, the EU's robust and targeted response to support partner countries' efforts in tackling the coronavirus pandemic.
The MFA funds will be made available for 12 months in the form of loans on highly favourable terms to help these countries cover their immediate, urgent financing needs.
Given the urgent need for this support, the Commission counts on the cooperation of the co-legislators to ensure swift adoption of the proposal.
Following the adoption of the proposal, the Commission stands ready to disburse the first instalment as swiftly as possible after the adoption of the MFA decision and upon the agreement on a Memorandum of Understanding with each partner country. The second instalment could be disbursed in the fourth quarter of 2020 or in the first half of 2021, provided that the policy measures attached to it have been implemented in a timely manner.
The $ 100 million is part of a € 3 billion macro-financial assistance (MFA) package for ten enlargement and neighborhood partners to help them to limit the economic fallout of the coronavirus pandemic.