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EC provides 72.5 mln euro financial package to Moldova

Jul 8, 2024, 5:35:11 PMArticle by Alexandru Cristea
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July 8 (SeeNews) - The European Commission said on Monday that it is extending a 50 million euro ($54.2 million) loan to Moldova, with grants of 22.5 million euro to be provided by the end of the month.

EC provides 72.5 mln euro financial package to Moldova
Source: European Parliament Multimedia Platform

"This financial support will help Moldova cover part of its 2024 financing needs, and support macroeconomic stability, while enabling further reforms," the Commission said in a statement.

While Moldova showed modest growth last year, following a deep recession in 2022, it remains impacted by Russia's war of aggression against Ukraine and continues to face energy security challenges, the EU executive noted.

This financing round marks the fourth installment in the Commission's programme of Macro-Financial Assistance to Moldova. The disbursement was made after the EU executive concluded that the country had fulfilled several policy conditions agreed with the EU, such as improving public sector governance, strengthening the independence of the National Bank of Moldova, reinforcing the rule of law, and taking measures to fight corruption.

The Macro-Financial Assistance plan, which totals up to 295 million euro, is aimed at helping Moldova in the wake of the multiple challenges over the last years and supporting it on its road towards EU accession.

($ = 0.9226 euro)

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