The European Commission (EC) has announced the provision of a loan of 50 million euros to Moldova on preferential terms, according to the EC communiqué, Report informs referring to Interfax.
In addition, the EC announced a new grant payment of 22.5 million euros until the end of July.
This financial support will help Moldova cover part of its financing needs for 2024 and maintain macroeconomic stability, while enabling further reforms, the document says.
This is the fourth tranche as part of the ongoing macro-financial assistance to the country. The European Commission concluded that the country had met the political conditions agreed with the EU for the release of these funds. In particular, according to Brussels, Moldova has improved public sector management and strengthened the independence of the National Bank.
Moldova has also strengthened the rule of law by adopting a law on extraordinary certification (i.e., full verification) of judges. Progress has also been made in the fight against corruption thanks to improved cooperation between anti-corruption and law enforcement agencies, the communique notes.
It expresses the hope that macro-financial assistance will help the country move along the European path.