GOVERNMENT COUNTS ON 70-MILLION-EURO CREDIT FROM COUNCIL OF EUROPE TO UNDERPIN BUSINESSES AND HEALTH SECTOR

On Wednesday, the Chicu Government approved the starting of negotiations on drafting a framework agreement between Moldova and the Council of Europe Development Bank (CEB) on realization of the Project "Prompt Response to COVID-19 and Support for Micro, Small and Medium Enterprises".

State Secretary of the Ministry of Finance Tatiana Ivanichkina said that the Government has already sent an address to CEB, expressing interest to receive a 70-million-euro credit from the Bank.

"The Project and the credit sum were recently approved by the CEB Board. The Project will be divided into two components - financing of the health sector to an amount of 40 million euros (for purchasing medical equipment and consumables) and support for micro, small and medium enterprises to an amount of 30 million euros", said the MoF State Secretary.

The credit's first component will be payable in 15 years and of the second one - 7 years. Interest rates will be set for each tranche individually and will vary between 0.13% and 0.19% p.a.