The European Union (EU) will provide 150 million euros of financial support to Moldova, which is experiencing economic difficulties due to the coronavirus epidemic and energy crisis. Of this support, 30 million euros will provide grants, and 120 million euros will provide medium-term loans with favorable conditions.
DIFFICULT PERIOD DUE TO THE ENERGY CRISIS
It was reminded that Moldova was going through a difficult period due to the epidemic, energy crisis and balance of payments problems.
In the statement, it was noted that Moldova should fight corruption and governance problems effectively.
SUPPORT WAITING FOR APPROVAL
In the statement, it was stated that for the said financial support to come into effect, it must be approved by the European Parliament (EP) and the European Council after this stage.
The EU can provide macro financial support to the countries in its immediate vicinity in times of economic crisis. EU financial aid includes more favorable payment terms than the loans that the country in question can normally obtain from the markets.
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