EU provides € 50 million in macro-financial assistance to Republic of Moldova – India Education | Latest Education News | Global education news
The European Commission, on behalf of the EU, has provided â¬ 50 million in macro-financial assistance (MFA) to the Republic of Moldova. This disbursement is part of the â¬ 3 billion emergency AMF package for ten enlargement and neighborhood partners, which aims to help them respond to the economic impact of the COVID-19 pandemic. AMF support is provided through loans at very favorable rates. The program is a concrete demonstration of the EU’s solidarity with its partners to help respond to the economic impact of the COVID-19 pandemic.
Paolo Gentiloni, Commissioner for the Economy, said: âI am happy that the European Union has provided an additional EUR 50 million in financial assistance to the Republic of Moldova. This is a concrete demonstration of the EU’s commitment to help Moldova cope with the economic and social impact of the COVID-19 pandemic. These funds, released following the fulfillment of agreed political commitments, recognize the progress made by the country in implementing the measures necessary to ensure a more stable and prosperous future. “
The first disbursement of â¬ 50 million to Moldova under this MFA program took place in November 2020. Moldova has made remarkable progress in fulfilling the political conditions agreed with the EU for the release of this second and last disbursement of 50 million euros in the context of its current COVID-19. MFA program. These included important measures to improve public financial management in the health sector, the fight against corruption, measures to strengthen good governance and the rule of law, as well as to improve the business climate.
Moldova also continues to meet the preconditions for respect for human rights and effective democratic mechanisms, including a multi-party parliamentary system and the rule of law.
With this disbursement, the EU has successfully completed five of the 10 MFA programs of the â¬ 3 billion AMF COVID-19 package and disbursed the first installments to all partners.
The Commission continues to work closely with the rest of its MFA partners on the timely implementation of agreed policy programs.