The Cabinet approved the bills to ratify the grant and loan agreement between the Republic of Moldova and the European Union on macro-financial assistance for Moldova and the related Memorandum of Understanding that was signed in Brussels on November 23, 2017, IPN reports.

Of the €100 million in macro-financial assistance intended for Moldova, €60 million will be provided in loans, while €40 million in the form of grants. The money will be disbursed in three equal installments, depending on the progress made in implementing the provisions of the Memorandum of Understanding signed with the International Monetary Fund and the conditions agreed by Moldova and the EU.

The EU’s macro-financial assistance is designed to contribute to creating a stable macroeconomic framework in Moldova, which will be favorable for doing structural reforms.

The package of documents is to be submitted to Parliament for examination.