The International Monetary Fund (IMF) is set to expand financing for two ongoing credit programs in Moldova – the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF) – by a total of $151 million, Report informs, citing Moldovan Parliament's press service.
Under the EFF program, funding will be increased by $126 million, while the ECF will receive an additional $25 million. The 40-month ECF/EFF program for Moldova, initially approved on December 21, 2021, and expanded in May 2022, is supported by a credit of approximately $805 million, of which around $608 million has already been disbursed.
In addition to the ECF/EFF program, a new arrangement under the Resilience and Sustainability Facility (RSF) was approved in December 2023, amounting to approximately $175 million, of which $44 million has been disbursed.
The ECF financing carries a zero percent interest rate with a 5.5-year grace period and a 10-year maturity. The EFF has an annual interest rate equal to the SDR basic rate and is repayable over 10 years with a 4.5-year grace period. The RSF program has a 20-year maturity with a 10.5-year grace period, during which the principal debt is not repaid.