The President of Romania Klaus Iohannis requested that the law on the ratification of the lending agreement under which Moldova is to get €150 million should be reexamined. The agreement was signed in Chisinau on October 7, IPN reports.
The Romanian head of state considers the promulgation of the law is not opportune until there is no certainty as to the continuation of the reformation process and the observance of the commitments undertaken to implement the Association Agreement between Moldova and the European Union, together with the European Atomic Energy Community, which was signed in Brussels on June 27, 2014.
According to the Romanian presidential press service, the loan of €150 million is to be provided from the money obtained from privatization that is available in the checking account in foreign currency opened at the National Bank of Romania. The loan is to be used by Moldova to cover the budget deficit and to settle a part of the state debt. It is to be disbursed in three tranches that are to be repaid within five years each.
