EU provides another 50 mln euros to Moldova in macrofinancial assistance

CHISINAU. April 5 (Interfax) - The European Union has given Moldova another 50 million euros in macrofinancial assistance totaling 150 million euros, the European Commission said in a report.

Moldova received a 10-million-euro grant from the EU on Wednesday, and the country will receive another 40 million euros in the form of a loan in May. "The support will help Moldova address its urgent financing needs and support overall macroeconomic stability while enabling wide-ranging and ambitious reforms," the report said.

The decision to provide more support was made after Moldova "fulfilled the policy conditions agreed with the EU," the report said. In particular, Moldova took measures to improve the management of state investment projects, the country's government adopted a new state finance management strategy, and the authorities also achieved progress in strengthening supremacy of law by installing top officials in several anti-corruption establishments.

According to earlier reports, the European Commission in August 2022 provided 50 million euros to Moldova in macrofinancial assistance, including 35 million euros in long-term loans on preferential conditions and 15 million euros in grants.

In January 2023, the European Commission suggested increasing the current macrofinancial assistance to Moldova by 145 million euros, as a result of which the total current support to the country may increase to 295 million euros. Of the additional funds, some 45 million euros may be provided in the form of grants and some 100 million euros in the form of loans on preferential conditions. The proposal is now pending the approval of the European Parliament and the Council of the European Union.