The European Parliament (EP) said on Thursday it will provide 150 million euros ($165 million) in macro-financial aid to Moldova to help it cover part of its external financing needs, Report informs, citing foreign media.
The 120 million euros in loans and 30 million euros in grants will be paid out in three installments until 2024, and the first tranche is planned for this summer, the EP said in a press release.
For the money to be disbursed, Moldova must show good progress in implementing a macroeconomic program set up by the International Monetary Fund (IMF), the EP said.
Moldova also has to put in place additional policy measures to be co-signed with the EU too, among other issues, recover assets lost after bank fraud in 2014, reform public finance management, justice sector, public procurement, and improve labor sector rights.