Moldova Will Receive €72.5 Mln from the EU by the End of October

Home / Economy / Moldova Will Receive €72.5 Mln from the EU by the End of October
The European Commission will provide Moldova with 72.5 million euros in financial support within the ongoing macro-financial assistance operation for the country. On 25 October, Moldova received a 50-million-euro loan, and another tranche of 22.5 million euros in the form of grants will follow by the end of the month. According to the EU Delegation to Moldova, this assistance is meant to provide further support to Moldova, whose economy has been severely affected by the consequences of the war in Ukraine and which still faces problems related to energy security. It will help the country cover part of its additional financing needs in 2023, maintain macroeconomic stability and ensure that reforms continue in line with the International Monetary Fund’s ongoing programme for Moldova. It will also help Moldova advance on its European path. The support was provided after the European Commission had found that Moldova had met the relevant programme policy commitments agreed with the EU. Moldova made progress in improving energy security by adopting a specific action plan for the coming winter. It is particularly important given the country’s ongoing energy security challenges. Moldova also strengthened public sector governance and advanced in the area of rule of law, showing progress in filling positions in the Superior Council of Magistracy and the Superior Council of Prosecutors. In addition, Moldova has taken important steps to improve the country’s business climate by adopting a new entrepreneurship development programme and a digital transformation strategy. The total amount of the current macro-financial assistance operation to Moldova is 295 million euros, of which 220 million euros are loans and 75 million are grants. This amount includes additional financing of 145 million euros, approved by the European Parliament and the Council in June 2023, of which 72.5 million euros are to be transferred to Moldova by the end of October. By the end of the month, Moldova will receive 172.5 million euros within this operation. Further tranches will be allocated depending on progress in meeting the agreed programme policy conditions.