EP Trade Committee approves €90million EU grant for Moldova

Moldova is set to receive an EU grant of up to €90 million to help it through the financial crisis, following a vote at European Parliament's Committee on International Trade on August 30, Info-Prim Neo reports, quoting Agerpres. Members of the Committee overwhelmingly backed plans to provide the funds when they approved a report by Iuliu Winkler (EPP, RO) by 20 votes to 1 with no abstentions. A final vote by the full Parliament will take place on September 7 in Strasbourg. The money will help Chisinau to finance its balance-of-payments deficit and meet its budgetary needs, and will supplement IMF, World Bank and other bilateral support already granted to Moldova. It will be made available in three or four installments: two in 2010 and one or two in 2011. MEPs insisted that Parliament must be regularly briefed by the Commission on how the assistance is managed and whether the principles of efficiency, transparency and accountability are being observed.