EP approves macro-financial assistance of €150 million for Moldova
Monday, March 28, 2022, 2:00 p.m.
Image by Botond Horvath / Shutterstock.com
The European Parliament announced on Thursday that it would provide 150 million euros in macro-financial assistance to Moldova to help cover part of its external financing needs.
The €120 million in loans and €30 million in grants will be disbursed in three tranches until 2024, with the first tranche scheduled for this summer, the EP said in a press release.
For the money to be disbursed, Moldova must show good progress in implementing a macroeconomic program put in place by the International Monetary Fund (IMF), the EP said.
Moldova also needs to put in place additional policy measures to be co-signed with the EU to, inter alia, recover assets lost after bank fraud in 2014, reform public financial management, the justice sector, public procurement and improving labor rights.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing decent journalism is an expensive business. For 27 years, the editors, editors and reporters of Budapest Business Journal have strived to bring you business news that works, information you can trust, that is factual, accurate and presented without fear or favour.
News organizations around the world are struggling to find a business model that allows them to continue to excel, without compromising their ability to perform. More recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer this same opportunity to our readers. We would like to invite you to help us provide the quality business journalism you need. Hit our Support the BBJ button and you’ll be able to choose how much and how often you send us your contributions.