Friday, February 12, 2010

Romanian Government approves non-refundable 100-million-euro grant for Chisinau

The Romanian Government approved a non-refundable 100-million-Euro grant for Moldova today.

The money will be distributed in four 25-million-Euro installments until 2013.

The decision comes after a highly publicized visit by Romanian President Traian Basescu and numerous cabinet members to Chisinau a week ago.

Financial assistance has been forthcoming from the IMF (nearly 600 million dollars), the World Bank (100 million dollars), and a few other sources, which will help Moldova weather the financial crisis.

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