EU proposes to increase Macro-financial Assistance for Moldova by up to €145 million
January 25, 2023

EU proposes to increase Macro-financial Assistance for Moldova by up to €145 million

On 24 January, the European Commission proposed to increase the ongoing Macro-financial Assistance (MFA) to the Republic of Moldova by up to €145 million. This will bring the total amount of ongoing MFA support to the country to up to €295 million. 

The additional assistance aims to provide further support to Moldova, whose economy has been severely hit by the consequences of Russia’s invasion of Ukraine, including hosting a high number of refugees, and a significant energy crisis continuing since October 2021. 

The increase in MFA would help the country to cover part of its additional funding needs in 2023, support macro-economic stability and provide for further reforms. Today’s proposal would accompany the country’s ongoing International Monetary Fund programme.

Out of the additional €145 million, up to €45 million would be provided in grants and up to €100 million in loans at favourable financing conditions. The amount is to be disbursed in two additional instalments planned for the third and fourth quarters of 2023, provided policy conditions are fulfilled.

It is now for the European Parliament and the Council to consider and adopt the proposal to increase the ongoing Macro-financial Assistance to Moldova. Once adopted, the proposal will enter into force and disbursements can be made.

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