Today’s meeting of the Cabinet of Ministers approved the signing of a credit agreement with the French Development Agency, which involves providing financial assistance to cover the budget deficit of the Republic of Moldova.

The document provides for the granting of a loan of 15 million euros, at a fixed interest rate of 1.38% per annum, with a maturity of 15 years and a grace period of 5 years. The money will be disbursed in a single installment, but no later than November 30, 2022. The loan will be repaid semi-annually in 20 equal installments.

The financial resources will be used to finance the needs of the state budget, including health services, education or social transfers.