The first payment of 218 million lei from the National Bank of Moldova was transferred to the state budget last week. Following amendments made to the legislation, the central bank transfers a part of its profits in order to compensate for the losses caused by the bank fraud, IPN reports.

After the working meeting of senior state officials, Prime Minister Ion Chicu said that owing to this transfer, the sum paid by the people for recovering the stolen funds will be lower.

Under the amendments adopted in March, if the statutory capital represents less than 4% of the monetary obligations of the National Bank of Moldova, the profits available for distribution will be fully allocated for increasing the statutory capital. If the statutory capital constitutes 4% to 10% of the Bank’s monetary obligations, 50% of the distributable profits will be allocated for raising the statutory capital, while 50% will be transferred to the state budget. If the statutory capital represents more than 10% of the Bank’s monetary obligations, the distributable profits will be fully transferred to the state budget.