CHISINAU (Pakistan Point News / Sputnik - 26th November, 2020) Moldova's President-elect Maia Sandu said Wednesday that the European Union would unlock the first 50 million euro ($60 million) in financial assistance as part of a 100 million euro loan package.
"We are grateful to the EU for today's decision to allocate 50 million Euros to Moldova. These financial means ... are extremely needed to support the national economy," she wrote on Facebook.
The money will be disbursed over the course of 12 months and is to be repaid with a single payment within 15 years. The interest rate will be determined for each tranche. The second installment is conditioned on banking reforms, business climate improvement and anti-corruption policies.
