The European Commission said on Tuesday that it was proposing to increase its financial assistance to Moldova by 145 million euros ($157.6 million) to bring its total assistance up to almost 300 million euros, in order to help the country cope with the energy crisis and the wave of refugees from Ukraine
MOSCOW (Pakistan Point News / Sputnik - 24th January, 2023) The European Commission said on Tuesday that it was proposing to increase its financial assistance to Moldova by 145 million Euros ($157.6 million) to bring its total assistance up to almost 300 million euros, in order to help the country cope with the energy crisis and the wave of refugees from Ukraine.
"The Commission is today proposing to increase the ongoing Macro-financial Assistance (MFA) to the Republic of Moldova by up to 145 million euros, bringing the total amount of ongoing MFA support to the country to up to 295 million euros. With this proposal, the Commission is standing by Moldova as the country continues to implement its reform agenda, while at the same time facing the fallout from Russia's war of aggression against Ukraine, battling an energy crisis, and hosting a high number of refugees from Ukraine," the Commission said in a statement.
According to the statement, out of the additional 145 million euros, 45 million will be provided in the form of grants and 100 million in loans at favorable financing conditions. These funds will be paid in two installments scheduled for the third and fourth quarters of 2023, the statement added.
After the European Commission put forward the proposal, the European Parliament and the Council will have to consider and adopt it, after which it will come into force and payments will be made, the statement read.
