EU offers USD 147 million package to Moldova

RUSSIA / FSU POLITICS - In Brief 10 Jul 2020 by Alex Teddy
On July 10 the EU announced that it has approved to aid to Moldova to help it service its debts. USD 11 million of this is a grant and USD 22 million is a loan. The loan is low interest and very long term. The EU took into account the impact of coronavirus on the country. There is a separate USD 113 million loan in view of this.Brussels is also doing this to reward Moldova for improving its judiciary, defeating money laundering and reducing corruption. There was due to be a USD 45 million installment but this has been canceled due to the country not making sufficient progress on certain issues. Customs have not been reformed and the country has not recovered the USD 1 billion that vanished from banks a few years ago.

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