Moldova likely to receive second installment of Romanian loan after approving agreement with IMF

Chisinau, 25 August /MOLDPRES/- The Romanian government will offer the next installment of the refundable financial assistance amounting to 150 million euros for Moldova, immediately after it signs an agreement with the International Monetary Fund (IMF), Romanian Public Finance Minister Anca Dragu told a news conference jointly held with Finance Minister Octavian Armasu.

On 24 August, Moldova received the first installment amounting to 60 million euros, representing budgetary support with general destination. The money will be used to cover all types of expenses at the state budget, Armasu said. He added that if only current expenses, as pensions, wages, social payments, were covered so far, Moldova was able to finance projects on development and road restoration.

“Today all processes of public procurement are already unlocked, we have no limitations. We are able to finance all projects. Surely, this became possible after unlocking foreign financing, especially, the first installment of Romanian loan,” Armasu said.

“Date of disbursement of the next installment from the 150-million euro- support will be discussed with the Moldovan government and can be carried out after a financing agreement with IMF is materialized, so following a decision by IMF. Then we will tackle the way and date of this second installment delivery,” Romanian Prime Minsiter Dacian Ciolos said.

The 150-million euro- loan is provided for a five-year period, with 1.45-per cent interest rate.

(Reporter V. Bercu, editor M. Jantovan)