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Posted by: trm.md
News / Economic
31 July 2020 / 17:42
Russian credit debated by the authorities
The government today approved the resumption of negotiations with the Russian Federation on accessing the 200-million-euro loan. The negotiating committee will include representatives from the Ministry of Finance, the Ministry of Economy and the Ministry of Justice.
The Government also approved the draft law on ratification of the Loan Agreement between the Republic of Moldova and the European Union. The document provides for a loan of 100 million euros. The first tranche is disbursed unconditionally, and the second requires the fulfillment of six conditionalities related to the business climate, good governance and the fight against corruption, but also the management of public finances.
"The objective of the respective macro-financial assistance is to reduce the country's external financing constraints, to alleviate the balance of payments and budget needs and to support the Republic of Moldova in the current financial situation", said Deputy Prime Minister, Finance Minister Serghei Puscuta.
The maturity of the loan is a maximum of 15 years. The loan will be repaid in a single installment. The interest rate applied for each tranche will depend on the cost at which the European Commission will borrow on the international financial market.
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