EU doubles macro-financial assistance to Moldova to €295 million

The EU Council on Tuesday decided to double the amount of macro-financial assistance to Moldova, which it agreed to provide a year ago.

This was reported by Evropeiska Pravda with reference to the press service of the Council of the European Union.

In April 2022, the EU Council adopted legislation that allows the EU to provide Moldova with financial assistance in the amount of 150 million euros. Today, the Council has increased this amount by 145 million euros. This means that Moldova will receive a total of 295 million euros.

The EU's macro-financial assistance is aimed at supporting economic stabilization and structural reforms in Moldova, complementing the resources provided under the IMF financial agreement.

Out of the total amount of €295 million, the EU will provide up to €220 million in loans and up to €75 million in grants.

The assistance should help cover Moldova's balance of payments needs as defined in the IMF program.

This decision will enter into force on the third day after its publication in the Official Journal of the European Union.

Moldova was granted candidate status for EU membership in June 2022. Even before receiving the candidate status, Moldova received financial assistance from the EU under the European Neighborhood Instrument. This assistance is now increasing.

Author - Olena Madiak, 30/05/2023