| Author (Corporate) | Council of the European Union, European Parliament |
|---|---|
| Series Title | Official Journal of the European Union |
| Series Details | L 242, Pages 14–21 |
| Publication Date | 20/09/2017 |
| Content Type | Legislation |
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Summary: Decision (EU) 2017/1565 - adopted by the European Union (EU) in September 2017 - which allocates macro-financial assistance of a maximum amount ot €100 million to Moldova with a view to supporting the country's economic stabilisation and a substantive reform agenda. Further information: Moldova's government requested Macro-Financial Assistance (MFA) from the European Union in August 2015 and reiterated that request in March 2016. The European Commission decided to address that request - considering political and economic developments in the country since 2014 - in January 2017, by adopting a Decision on an MFA to Moldova of up to €100 million, of which €60 million in the form of loans and €40 million in the form of grants. An informal agreement between the co-legislators on the draft Decision was reached on 6 June. The compromise text was endorsed by the European Parliament on 4 July and by the Council of the European Union on 17 July. It was signed by the co-legislators on 13 September. Disbursements under this programme are conditional on good progress with a related programme sponsored by the International Monetary Fund (IMF) and on the implementation of specific policy conditionality to be agreed between Moldova and the EU in a Memorandum of Understanding (MoU). In light of proposed changes to the country's electoral system, the institutions also produced a joint statement on preconditions for this programme, highlighting the importance of the respect for a multi-party parliamentary system and for the rule of law. In June 2018, the disbursement of the first installment was put on hold by EU authorities, due to a deterioration of conditions relating to rule of law and mounting political issues. Following a change of government, the European Union decided in July 2019 to resume budget support assistance. The first tranche of this MFA was delivered to the country on 10 October. The second and final disbursement was approved on 10 July 2020. The disbursement followed the fulfilment of the policy commitments agreed with the EU, as laid down in the MoU. |
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| Source Link | Link to Main Source http://data.europa.eu/eli/dec/2017/1565/oj |
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| Subject Categories | Economic and Financial Affairs |
| Subject Tags | Economic Governance | Situation |
| Keywords | Macro-Financial Assistance [MFA] |
| Countries / Regions | Moldova |
| International Organisations | European Union [EU] |
