The Republic of Moldova and the European Union signed the package of documents on the provision of €100 million in macro-financial assistance in Brussels on November 23. Of this sum, €40 million will be allocated in the form of grants, while €60 million as a loan, IPN has learned from the Government’s press service.

The document was signed by European Commissioner for Economics and Financial Affairs, Taxations and Customs Pierre Moscovici, Minister of Finance Octavian Armasu and Governor of the National Bank of Moldova Sergiu Cioclea, in the presence of Prime Minister Pavel Filip. The set of documents will be remitted to Parliament for ratification. Meanwhile, efforts are being made to meet the conditions for receiving the first tranche.

Pavel Filip and Pierre Moscovici expressed their confidence that efficient interaction will be ensured throughout the period of allocation of macro-financial assistance. During the discussions, the two analyzed the recent economic developments in Moldova and mentioned particular positive results ascertained by the IMF assessment mission, which allowed reaching an agreement within the second review of the Program.

The Premier said that effort is being made to improve the situation in the banking sector and the business climate so as to show a system change in the fight against corruption, money laundering and frauds. Emphasis is placed on the enhancement of shareholder transparency, ensuring of good governance and management of risks at banks.

Pierre Moscovici welcomed the Government’s efforts to stabilize the economy and encouraged the continuation of reforms. He expressed his support for ensuring sustainable economic development, strengthening the banking system and continuing the implementation of the Europeans standards in the customs sector, in accordance with the commitments assumed through the Moldova - EU Association Agreement.