On Tuesday 30 May, the Council of the European Union approved further macro-financial assistance from the European Union to Moldova worth €145 million (€45 million in grants, €100 million in loans), 2 days before the summit of the ‘European Political Community’ in Chișinău.
The financial support will contribute to the economic stabilisation of the EU candidate country, whose balance of payments will still be in deficit in 2023 despite IMF assistance. As a neighbour of Ukraine, Moldova is feeling the impact of Russia’s military aggression against that country, the usual outlet for its exports.
“Moldova can continue to count on the EU”, said Elisabeth Svantesson, current President of the Ecofin Council. “Given the circumstances, it is appropriate to double existing EU support”, she added in a statement.
This aid of €145 million supplements the €150 million granted in April 2022, the first two instalments of which have already been paid (see EUROPE 13174/29).
To receive macroeconomic assistance, Moldova must guarantee respect for democratic standards, the Rule of law and human rights. It must also receive a positive assessment from the IMF regarding the implementation of structural reforms.
See the Council’s decision: https://aeur.eu/f/74i (Original version in French by Mathieu Bion)