The legislative body on December 15 ratified the grant and loan agreements with the European Union for the provision of €100m in macro-financial assistance to the Republic of Moldova, specifically €60 million is loans, while €40 million in the form of grants. The agreements were adopted by the votes of 69 MPs, IPN reports.

The money will be disbursed in three equal installments, depending on the progress made in implementing the provisions of the Memorandum of Understanding signed with the International Monetary Fund and the conditions agreed by Moldova and the EU. The loans will be repayable in 15 years. The interest rate will be set for each installment apart and will depend on the fluctuations on the European banking market.

At the insistence of Liberal MP Valerian Bejan, deputy minister of finance Yuri Cicibaba read the 28 conditions that Moldova should meet for obtaining the macro-financial assistance from the EU. Speaker of Parliament Andrian Candu said most of the conditions for obtaining the first installment were already met or are close to being met as the necessary laws were adopted in the first reading.

Among the conditions are: to give additional powers to the Assets Recovery Agency; to increase transparency by voting a new law on state-run and municipal enterprises; to approve a new law on the prevention and combating of money laundering. To establish a system based on merit in promoting judges, the Superior Council of Magistracy must review the judge selection and promotion criteria in accordance with the international standards. The Government must present a new law on energy that would harmonize the legislation in the field.

Yuri Cicibaba said the money provided by the EU will be used to cover the budget deficient and to implement the agenda assumed by the Government.