The European Commission on Wednesday announced that it will pay €50 million in financial support to the Republic of Moldova, as part of the ongoing Macro-Financial Assistance operation worth €150 million in total. Under this second installment, today Moldova received a €10 million grant, and a further payment of €40 million in loans will follow at the beginning of May, IPN reports.
The war has significantly impacted the Moldovan economy, adding to sizeable pre-existing challenges and imbalances. The support will help Moldova address its urgent financing needs and support overall macroeconomic stability while enabling wide-ranging and ambitious reforms, the European Commission noted in a press release.
The Commission concluded that Moldova has fulfilled the policy conditions agreed with the EU for the release of this disbursement. Moldova strengthened public sector governance, with actions taken to improve the management of public investment projects. The government made progress on financial sector governance, with the adoption of a new public finance management strategy. The Moldovan authorities also made progress in strengthening the rule of law, filling management positions in several anti-corruption institutions. The Parliament also adopted a new program to recover criminal assets, runs the press release.
The Commission had already paid €50 million to Moldova under a first installment in August 2022. The Commission also proposed in January this year to increase the ongoing Macro-financial Assistance to Moldova by up to €145 million. This proposal is currently under consideration by the European Parliament and Council.
