EC provides new € 50 million in macro-financial support to Moldova

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BUCHAREST (Romania), Oct.11 (SeeNews) – The European Commission (EC) announced on Thursday that it had disbursed a second tranche of € 50 million ($ 57.8 million) in macro-financial assistance to Moldova.

The funding comes entirely from the EU’s € 3 billion emergency microfinance assistance program, which aims to help businesses respond to the economic impact of the COVID-19 pandemic, the EC said in a press release on Friday.

According to the Commission, Moldova has made remarkable progress in fulfilling the political conditions agreed with the EU for the release of this second and final installment of € 50 million under its current COVID-19 AMF program . These included important measures to improve public financial management in the health sector, the fight against corruption, measures to strengthen good governance and the rule of law, as well as to improve the business climate.

Moldova continues to fulfill the preconditions regarding respect for human rights and effective democratic mechanisms, including a multi-party parliamentary system and the rule of law, added the EC.

The first payment of 50 million euros to Moldova under the AMF program was made in November 2020.

“This is a concrete demonstration of the EU’s commitment to help Moldova respond to the economic and social impact of the COVID-19 pandemic. These funds, released following the fulfillment of the agreed political commitments, recognize the progress made by the country in the implementation of the measures. necessary to ensure a more stable and prosperous future “, said Economic Commissioner Paolo Gentiloni.

The AMF COVID-19 program for Moldova is part of an overall EU effort to help mitigate the economic and social impact of the pandemic and accelerate recovery.

The new AMF disbursement comes shortly after the release of € 36.4 million in budget support under the EU’s economic recovery plan for Moldova, which could reach € 600 million for the next three years.

($ = 0.8655 euros)

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