The Republic of Moldova received the first tranche of €51.6 million under the lending agreement with the EU for macro-financial assistance (Omnibus) that was signed by the sides on July 21, IPN reports, quoting the Ministry of Finance.

The lending agreement is valid for at most 12 months, while the loan is repayable in 15 years. The interest rate on each tranche will depend on the costs incurred by the European Commission for borrowing money from the international financial market.

The loan is to be used to diminish the country’s external financial constraints, to attenuate the balance of payments and budget needs and to support the Republic of Moldova in the current financial situation.