European Parliament approves macro-financial assistance for Moldova

The European Parliament approved on Wednesday, February 14, a macro-financial assistance worth EUR 45 mln for Moldova. According to the project, the financial support will help Moldova to ease its financial constraints as a result of implementation of certain economic programmes. This assistance will also encourage authorities in their efforts to implement the reforms within the Moldova-EU Action Plan, European Neighbourhood Policy and Economic Growth and Poverty Reduction Strategy Paper. The financial support is also provided in light of Moldova’s poor economy and decline in the trade balance, especially due to foreign factors, as price rise in energy and ban on agrifood products (wine) imposed by the Russian Federation. EUR 30 mln will be granted during this year, the rest EUR 15 mln – in 2008.