EU ALLOCATES 10 MILLION EUROS TO MOLDOVA FOR BUDGET DEFICIT FINANCING

Moldova received a grant worth 10 million euros from the European Union, which together with the 20-million credit arrived in October, represents the first tranche of macro-financial assistance of 100 million euros, promised by the EU as budget support.

According to the Ministry of Finance, 60 million euros from this assistance will be received in the form of credits and 40 million euros – in the form of grants. The first grant worth 10 million euros is designed for covering budget deficit.

Besides, on November 7 Moldova received two tranches of budget support within budget assistance, provided to the Republic of Moldova for the total sum of 25 million lei. Money will be used for conducting key reforms, started by the Government in the field of the Ministry of the Interior, for combating of corruption and money laundering, as well as in agriculture and rural development.

Due to the EU support, the Moldovan police managed to continue modernization and advanced learning of their employees. Also, due to the European support, Moldova raised competitiveness of the agri-food sector due to investments in agriculture, unification of agricultural producers and providing of necessary assistance to agri-food trade units, which cooperate with the EU. The financing from the side of the EU contributed to the growth of quality standards in the field of safety of food products. The EU program also supported initiatives on developing rural areas.