The Government Approved Negotiations with the EU on a €100 million Loan

At the meeting on July 8, the government approved the start of negotiations to sign an agreement with the European Union on providing a loan of €100 million to Moldova. According to the government, these funds are needed to improve the economic situation in the country. According to Deputy Prime Minister Sergiu Puscuta, to postpone the negotiations and signing of the agreement is impossible. “The purpose of this microfinance assistance is to mitigate the effects of reduced external financing of the country, as well as to balance payments and budget needs and support Moldova in the current economic situation,” he said. If the agreement is signed, Moldova will receive €100 million from the EU in two equal tranches. Receiving the first tranche is conditional upon the signing of a Memorandum of Understanding with the EU, and the second – upon progress in its implementation.