The International Monetary Fund will provide additional financial assistance to the Republic of Moldova through the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF). The money will be used to cover state budget costs. The relevant draft laws were examined by members of the parliamentary commission on economy, budget and finance, IPN reports.
Secretary of state of the Ministry of Finance Ion Gumene said the financial assistance provided by the IMF will be increased after the last mission of the International Monetary Fund found that the Republic of Moldova has made substantial progress.
Thus, it is proposed to increase the loan granted by the IMF through the EFF by 94.3 million Special Drawing Rights. According to the authorities, the estimated amount of the increase is US$ 126 million dollars. The money will be disbursed in 12 equal installments. The loan is repayable during ten years and the interest rate will be floating.
At the same time, it is proposed to increase the loan granted by the IMF through the ECF by 19.05 million Special Drawing Rights, which is approximately US$25 million. The loan will be disbursed in 10 equal installments. The loan is repayable during ten years and the interest rate will be set every two years and will be 0% until 2025.
The draft laws regarding the provision of additional financing by the IMF through the Extended Credit Facility and the Extended Fund Facility will be proposed for consideration in the plenary session of Parliament.
