Moldova has received the first tranche of 30 million euros offered by the European Union in macro-financial assistance. It includes a 10 million euros grant component, which was received on Friday and will go to finance the budget deficit. The other 20 million euros were disbursed in the form of loans in the course of October, IPN reports.

According to a press release from the Ministry of Finance, the macro-financial assistance granted by the European Union to Moldova is a financing arrangement of up to 100 million euros, of which 60 million euros will be granted in the form of loans and 40 million euros in the form of grants.

The Ministry of Finance also announced that on November 7, two tranches totaling 25 million euros were received within the budgetary assistance granted to Moldova. The funds will be used to carry out key reforms initiated by the Government in the police, fighting corruption, money laundering, agriculture and rural development.

According to the Ministry of Finance, due to EU support, the Moldovan police managed to modernize and improve professionalism. Also, thanks to EU support, Moldova has increased the competitiveness of the agrifood sector through effective investments in agriculture, the creation of groups of agricultural producers and granting the agrifood establishments the necessary aid in the EU trade. European Union funding has also contributed to meet the EU and international quality standards on food safety. The EU program has also supported rural development initiatives.