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Moldova: EU agreed with 100 mln financial assistance

60 mln in loans and 40 in from of grants

13 April, 16:45
(ANSA) - TRIESTE - EU ambassadors agreed the Council's negotiating stance on macro-financial assistance for the Republic of Moldova. Up to 100 million is proposed in EU assistance, of which 60 million in loans and 40 million in the form of grants. It would supplement resources provided by the IMF and other multilateral institutions.

The assistance would be aimed at supporting the country's economic stabilisation and structural reform agenda, helping to cover its external financing needs over the coming two years.

Ambassadors asked the presidency to start talks on the proposed decision with the European Parliament, as soon as the Parliament has agreed its own stance.

The Republic of Moldova's economy was affected by political instability during the period between elections in November 2014 and January 2016. It has also been affected by a banking fraud scandal, weak economic activity and import bans imposed by Russia. In July 2016 the Moldovan authorities and the IMF agreed a three-year extended credit facility and extended fund facility arrangement for $178.7 million. The Republic of Moldova requested complementary assistance from the EU in August 2015 and renewed that request in March 2016. (ANSA).

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