The Chamber of Deputies on October 13 ratified the lending agreement to the value of €150 million between Romania and Moldova that was signed in Chisinau on October 7, 2015, IPN reports, quoting the news agency Agerpres.

The agreement was ratified by 312 votes in favor and three abstentions.

The loan is repayable in five years and will be disbursed in three tranches. The first tranche of €60 million will become available this year, the second of €50 million in 2016, while the third of €40 million in 2017. The money will be used to cover the budget deficit of Moldova, which is projected to represent 3.8% of the GDP in 2015.

Moldova’s Prime Minister Valeriu Strelet said this loan represents a benevolence gesture on the part of Romania for which the official Chisinau is grateful.

“It is a gesture that deserves our recognition and you have this recognition. I said earlier and repeat now that there are not many countries that would tell another country “tell us how we can help you”. This is Romania’s attitude and we thank you for it. We will make effort for this assistance to be a good basis for our subsequent development,” said the Premier at the end of an official meeting with his Romanian counterpart Victor Ponta, which was held at the Victoria Palace.

Victor Ponta said that by this loan of €150 million that Romania provides to Moldova, the decision makers of the two states show the people from both sides of the Prut that they can be together in good and bad times, noting that all the institutions, politicians and parties in Romania supported this important step.

He stated that during 25 years, there were said many things and provided many pieces of advice, but not many concrete things were done. Such things stated to be implemented during the last two years, like the building of the Iasi-Ungheni gas pipeline, the school minibus program, investments of €20 million for rehabilitating and constructing nursery schools and the project to develop the SMURD system in Moldova.

“But the most important thing is that Moldova needs now financial assistance that they can get only from us so as to be able to overcome a difficult period. When the times are bad, one realizes who are his real friends,” stated the Romanian Premier.

On October 13, Valeriu Strelet also had a meeting with the President of Romania Klaus Iohannis at the Cotroceni Palace.