European Funds for the Republic of Moldova

european funds for the republic of moldova Moldova will get additional funds from the European Union

The Republic of Moldova and the European Union on Thursday signed the documents for a financial aid package worth €100 million, of which €40 million non-reimbursable funding. Moldova is expected to receive the funds by the end of the year and must invest it in four development programs. The documents underlying the financial deal will be submitted to the Moldovan Parliament for approval. 


Meanwhile, Chisinau authorities are making efforts to fulfill all requirements for disbursing the first installment of the loan. According to Radio Chisinau, several MEPs and Moldovan politicians had insisted the financial aid be postponed after Parliament had changed the election system, despite being advised against it by the Venice Commission. 


On the sidelines of the Eastern Partnership Summit, the European Council President Donald Tusk and Moldovan Prime Minister Pavel Filip discussed the implementation of Moldova's Association Agreement with the European Union and the developments in Moldova. Tusk highlighted the fact that the Republic of Moldova is one of the most important members of the Eastern Partnership, commending Moldovans' confidence in the EU. 


In turn, Filip reiterated his country's efforts to join the community bloc, which is transparent in recent surveys, showing an increased support from Moldovan citizens for their country's EU accession. Pavel Filip reassured Tusk that his Government's list of priorities includes securing the independence of the judiciary, continuing efforts to investigate bank fraud and hold the people involved accountable, as well as implementing the new election law in line with the recommendations of the Venice Commission. 


In another development, Moldova's Justice Minister Vladimir Ceboratri has stated in Bucharest that his country relies on Romania's support for its EU accession. Western leaders have voiced concern over the level of corruption in Chisinau, which in 2014 led the mysterious disappearance of $1 billion, the equivalent of 15% of its GDP, by means of a massive bank fraud. 


For fear they might see their funds sucked into a black hole, the EU, the IMF and the World Bank have temporarily suspended their financial assistance to Chisinau.  At the time Romania was the only country that gave €150 million to Moldova on loan over a four and a half years period, at a preferential interest rate of 1.45%. (Translated by Vlad Palcu)



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Publicat: 2017-11-24 13:10:00
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