The European Commission is granting Moldova financial support worth 72.5 million euros. The Commission provided this support after concluding that Moldova had met the policy conditions agreed upon with the EU for the disbursement. The financial support will help Moldova cover part of its financing needs for 2024, support macroeconomic stability, and allow reforms to continue.
Today, the Commission is providing Moldova with a €50 million loan on favorable terms. An additional €22.5 million in grants will follow by the end of this month.
It is the fourth installment under the ongoing macro-financial assistance to Moldova. It comes after the Commission determined that the country has fulfilled the policy conditions agreed upon with the EU for the disbursement.
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The European Commission noted, “Moldova has improved public sector governance, strengthened the independence of the National Bank of Moldova, reinforced the rule of law by adopting a law on the extraordinary evaluation (full vetting) of judges, and made progress in fighting corruption through better cooperation between anti-corruption and law enforcement bodies. The country has also taken steps to introduce renewable energy and reformed the Customs Code, aligning it fully with the EU Customs Code. Additionally, Moldova adopted a National Strategy for Economic Development, providing an ambitious vision to steer its economic policies until 2030.”
The macro-financial assistance is part of a wider EU effort to support Moldova in the face of many challenges over recent years. The total support amounts to €295 million.