Moldova Received Over €51 Million from the European Union Within Loan Agreement

Moldova Received Over €51 Million from the European Union Within Loan Agreement
25 November 2020 | 21:03

Moldova received the first tranche of 51 million euros from the Loan Agreement with the European Union on Macro-Financial Assistance (Omnibus), signed on July 21, 2020.

The first tranche of the Loan Agreement between Moldova and the EU on macro-financial assistance arrived on  November 25, on the Ministry of Finance accounts.

This loan’s objective is to reduce the country’s external financing constraint, alleviate the balance of payments and budget needs, and support Moldova in its current financial situation.

The loan will take up to a year and 15 years to be repaid in a single installment. The interest rate applied to each tranche will depend on the cost at which the European Commission borrows on the international financial market.

Moldova’s newly elected president, Maia Sandu, expressed her gratitude for the financial support provided by the E.U.

“Good news for our country! We are grateful to the European Union for today’s decision to allocate 50 million euros for Moldova. These financial resources of over 1 billion Moldovan lei are essential to help the national economy. It is important that financial aid is allocated to key areas and is managed in good faith.”

AUTHOR MAIL

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