Macro-financial assistance to Moldova

PURPOSE: to provide supplementary macro-financial assistance of EUR 145 million to Moldova.

LEGISLATIVE ACT: Decision (EU) 2023/1165 of the European Parliament and of the Council amending Decision (EU) 2022/563 as regards the amount of macro-financial assistance to the Republic of Moldova.

CONTENT: on 6 April 2022, the European Parliament and the Council adopted a decision providing EU macro-financial assistance to Moldova in the amount of EUR 150 million. With the present decision, this amount is increased by EUR 145 million, which means that a total of EUR 295 million will be made available to Moldova. Of this maximum amount, up to EUR 220 million will be disbursed in the form of loans, and up to EUR 75 million in the form of grants.

Russia's war in Ukraine is having a considerable negative impact on Moldova's economy. There remains a significant residual external financing requirement for Moldova's balance of payments for 2023, in addition to the resources provided by the IMF and other multilateral institutions. In the current exceptional circumstances, this increase is considered an appropriate response to Moldova's request for support for economic stabilisation, in conjunction with the IMF programme.

The Union’s macro-financial assistance will be made available by the Commission in five instalments, each of which will consist of a loan and a grant element.

The increase of the Union’s macro-financial assistance is subject to additional economic policy conditions, to be added to the existing Memorandum of Understanding which should, as a consequence, be amended accordingly.

ENTRY INTO FORCE: 19.6.2023