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Representatives of the European Commission will discuss with the new Moldovan government this week the terms and conditions for the resumption of the EU macro-financial assistance

Representatives of the European Commission will discuss with the new Moldovan government this week the terms and conditions for the resumption of the EU macro-financial assistance

Johannes Hahn, the European Commissioner for Neighborhood Policy Enlargement Negotiations, said this before the meeting of the Foreign Affairs Committee of the European Council. He noted that first of all, the European Union is expecting the new Moldovan government to conduct the reform of justice. Speaking about the fate of the previously frozen EU macro-financial assistance for Moldova, Johannes Hahn said that it can be resumed only if certain conditions are met, including progress in the justice reform and in the investigation of the “theft of the billion”. Johannes Hahn said that he will discuss these and other issues during his visit to Chisinau this week. “We will discuss with the new government the issues if they can speed up the [reform] process ... then of course we are ready to start financing the program again,” said Johannes Hahn. As previously reported, Moldova was supposed to receive macro-financial assistance totaling 100 million euros from the EU, but this assistance was blocked, mainly due to the change of the electoral system by the authorities, despite the recommendations of European institutions, in particular, the Venice Commission, as well as the invalidation of Chisinau mayor elections, which were won by the opposition DA leader Andrei Năstase. The previously approved EU macro-financial assistance to Moldova totaling 100 million euros provides for the allocation of 40 million euros in grants and 60 million euros in soft loans. These funds were divided into three tranches. It was expected that the first tranche of aid in the form of a loan with a grant would amount to 30 million euros (10 million grant, 20 million - credit), the second tranche - 30 million euros (10 million / 20 million), and the third tranche - 40 million euros (20 million / 20 million). The allocation of these funds depended, initially, on the progress in implementing the Memorandum with the IMF and the implementation of the conditions agreed upon with the EU. The memorandum agreement concerning the allocation of loans to Moldova within the framework of macro-financial assistance contained 28 conditions for the allocation of funds, including: improved management of public funds and the reform of the central public administration, management reform in the financial sector, energy sector reform; support for anti-corruption and money laundering policies; improving the business and investment climate in accordance with the Deep and Comprehensive Free Trade Area (DCFTA) agreement between Moldova and the EU. The EU macro-financial assistance funds were supposed to supplement the resources provided to Moldova by the International Monetary Fund and other multilateral institutions. // 18.06.2019 - InfoMarket.

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