European Commission allocates €50 million to Moldova to support reforms and urgent needs
The European Commission is allocating Moldova the second €50 million tranche of macro-financial support, the European institution announces. The Commission notes that this aid is an important support from the EU for one of the countries most affected by Russia's war of aggression against Ukraine.
"The war has had a significant impact on the Moldovan economy. The support will help Moldova address its urgent financing needs and support overall macroeconomic stability, while allowing for comprehensive and ambitious reforms," the European Commission statement said.
The Commission decided to disburse the second tranche of macro-financial assistance after concluding that Moldova has fulfilled its commitments.
"Moldova has strengthened public sector governance with actions taken to improve the management of public investment projects. The government has made progress in financial sector governance by adopting a new public finance management strategy. The Moldovan authorities have also made progress in strengthening the rule of law. Parliament has also adopted a new programme for the recovery of criminal assets," the European Commission notes.
The macro-financial assistance is evidence of the EU's efforts to help Moldova overcome the challenges of recent years and move towards European integration.
Also today, Moldova received a €10 million grant from the EU. A further €40 million will be disbursed in early May in the form of loans, the European Commission statement said.
The European Commission allocated the first tranche of €50 million in August 2022. Subsequently, in January the Commission proposed to increase macro-financial assistance to Moldova to €145 million. The proposal is being examined by the European Parliament and the EU Council.
