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European Union to grant 90 million euro to crisis-hit Moldova
Date 08/09/2010 12:43  Author webmaster  Hits 904  Language Global
08 SEP 2010

Sofia Echo

Moldova is set to receive an EU grant of up to 90 million euro to help it through the financial crisis.

In a plenary vote on September 7 2010, members of the European Parliament overwhelmingly backed plans to provide the funds when they approved a report by Iuliu Winkler (EPP, RO) with 590 votes in favour, 26 against and 29 abstentions.

The money will help Chisinau to finance its balance-of-payments deficit and meet its budgetary needs, and will supplement IMF, World Bank and other bilateral support already granted to Moldova. It will be made available in three or four instalments: two in 2010 and one or two in 2011.

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