The European Union identified and reoriented over €87 million for Moldova’s immediate needs and for managing the consequences of COVID-19. Besides this, the EU will provide
Head of the EU Delegation to Moldova Peter Michalko said the €87 million is reoriented to ongoing or planned projects. The new macro-financial assistance (€100 million) forms part of the package of €3 billion provided in assistance to ten countries. The money is designed to support Moldova’s state budget and this is emergency assistance that should arrive speedily.
Peter Michalko noted the memorandum on the provision of macro-financial assistance will be negotiated rather swiftly and the first tranche will be immediate. The assistance provided to fight COVID-19, the €87 million, and the first tranche of the new macro-financial assistance are not subject to conditionality. Only particular policy measures should be taken. As regards the second tranche that could reach Moldova by this yearend or at the start of next year, particular conditions are imposed related to reforms.
And these are necessary for the Republic of Moldova to come out of the crisis prepared. After the crisis, the competition between countries in the attraction of investments and creation of jobs will be greater. To be attractive, there should be favorable conditions, stated the ambassador.
As to the €70 million in macro-financial assistance agreed in November 2017, Peter Michalko said the existing conditions should be met in the nearest future for the second tranche to be disbursed. The provision of the €30 million depends on the progress that will be made. The time limit for accessing the third tranche of €40 million expires in July and this money can be obtained if particular reformed needed by the country are done.
The debate titled “EU assistance for alleviating the effects of COVID-19 on the Republic of Moldova” was organized by Institute for European Policies and Reforms with support from the Hanns Seidel Foundation.
