Romania grants second loan installment of EUR 50 mln to Republic of Moldova

Newsroom 10/02/2017 | 11:03

Romania has granted the Republic of Moldova the second loan installment worth EUR 50 million a month earlier than initially planned, taking into account that the first installment worth EUR 60 million was given last summer, says the Public Finance Ministry (MFP).

The loan is based on the “agreement regarding the financial back payment assistance between Romania and the Republic of Moldova” enforced by the law 91/2016.

„In January 2017 the Public Finance Ministry from the Republic of Moldova transmitted an official letter to the Public Finance Ministry from Romania through which it requests the change of the issuing date of the second installment of EUR 50 million from March 31 2016 on February 27 2017,” says the MFP release.

According to the Government decision project for the approval of the date change published on the Finance Ministry, the enforcement of financing facility given by the International Monetary Fund was communicated for a period of 3 years, through two loan instruments- Extended financing mechanism (EFF) and the Extended loan mechanism (ECF) valued at approximately USD 178.7 million.

„The enforcement of the IMF facility represents a necessary condition for the issuing of the second installment of the the financial back payment assistance given by Romania,” says the release.