Romanian reimbursable loan to Moldova approved by Senators

Romanian reimbursable loan to Moldova approved by Senators

Bucharest, October 20, 2015/Independent Balkan News Agency

By Irina Stoica

Romanian senators have unanimously endorsed a financial assistance agreement between Romania and the Republic of Moldova. Prime Minister Victor Ponta announced that the project had already been sent to President Klaus Iohannis for ratification. The reimbursable loan to Moldova amounts to 150 million euros and it will be disbursed in three tranches. The head of the Cabinet pointed out that this loan is instrumental in helping Chişinău strengthen ties with the European Union. As a matter of fact, this agreement clearly stipulates that Moldovan officials must negotiate and reach an agreement with the IMF, the European Commission and the World Bank.

This reimbursable loan is just the latest step that Romanian authorities have taken in order to support Moldova. Previous contributions include building the natural gas pipeline, a kindergarten program, school minibuses for children in Moldova just like the Romanian children have, support for cultural sites. “We can do more”, Romanian Prime-Minister Victor Ponta said. According to Ponta, “the important thing is for people to support us and understand that we don’t give something to charity but we’re making an investment. For Romania, it means that the Republic of Moldova must reach Romania’s development level as soon as possible and, together, we may aspire to a European one”.