The agreement by which Moldova borrowed €150 million from Romania was approved by the Government and will be submitted to Parliament for ratification. The document was signed in Chisinau in the morning of October 7, IPN reports.

The loan is offered to Moldova as budget support. The money will be disbursed in three stages. The first tranche of €60 will be provided this year.

The loan is repayable in five years at an interest rate of 1.5% a year. The accord will take effect after it is ratified by Parliament.