The Commission will pay €50 million in financial support to the Republic of Moldova, as part of the ongoing Macro-Financial Assistance operation worth €150 million in total. Under this second instalment, today Moldova received a €10 million grant, and a further payment of €40 million in loans will follow at the beginning of May. This constitutes important support from the EU to one of the countries most directly and heavily impacted by Russia's war of aggression against Ukraine.
The war has significantly impacted the Moldovan economy, adding to sizeable pre-existing challenges and imbalances. The support will help Moldova address its urgent financing needs and support overall macroeconomic stability while enabling wide-ranging and ambitious reforms.
This comes after the Commission concluded that Moldova has fulfilled the policy conditions agreed with the EU for the release of this disbursement. Moldova strengthened public sector governance, with actions taken to improve the management of public investment projects. The government made progress on financial sector governance, with the adoption of a new public finance management strategy. The Moldovan authorities also made progress on strengthening the rule of law, filling management positions in several anti-corruption institutions. The Parliament also adopted a new programme to recover criminal assets.
Macro-Financial Assistance support is part of the wider EU effort to support Moldova in the wake of the multiple challenges over the last years. It will also help Moldova advance on its European path.
The Commission had already paid €50 million to Moldova under a first instalment in August 2022. The Commission also proposed in January this year to increase the ongoing Macro-Financial Assistance to Moldova by up to €145 million. This proposal is currently under consideration by the European Parliament and Council.
- Publication date
- 5 April 2023
- Directorate-General for Neighbourhood and Enlargement Negotiations