Decision (EU) 2023/1165 amending Decision (EU) 2022/563 as regards the amount of macro-financial assistance to the Republic of Moldova

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Series Details L 155, Pages 1-3
Publication Date 16/06/2023
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Summary:

Decision (EU) 2023/1165 - adopted by the co-legislators on 14 June 2023 - introducing amendments to Decision (EU) 2022/563 as regards the amount of macro-financial assistance to Moldova.

Further information:

Decision (EU) 2022/563 established a new emergency Macro-Financial Assistance (MFA) programme for Moldova. However, the circumstances underlying Moldova's programme further worsened - the country is both directly and indirectly affected by Russia's invasion of Ukraine, which came on top of an energy crisis. Moreover, thousands of people crossed the Moldovan border since the start of the war, which added pressure on Moldova's public finances. The overall macroeconomic position weakened further in 2022. Presenting limited buffers to mitigate the crisis, Moldova requested further assistance from international partners. The proposed increase comes as part of larger EU and international assistance for Moldova.

The existing MFA programme was requested by Moldova in November 2021. It was adopted by the co-legislators in April 2022 and it entered into force in July 2022. The operation was made available in combination with a new arrangement from the International Monetary Fund (IMF), which was adopted in December 2021 and expanded in May 2022. Notwithstanding the existing assistance to Moldova, the worsening circumstances led the financial gap for 2023 to increase by €430 million.

This Decision increases the existing MFA programme by €145 million, paid in three instalments linked to a series of policy conditions. The draft law was adopted by the European Commission on 24 January 2023. It was endorsed by the plenary of the European Parliament on 23 March and by the Council of the European Union on 30 May. The Act was signed by the co-legislators on 14 June 2023 and published in the Official Journal on 16 June 2023.

Source Link http://data.europa.eu/eli/dec/2023/1165/oj
Related Links
News
The Sofia Globe, 25/01/2023: EC proposes increasing financial aid for Moldova by up to 145M euro https://sofiaglobe.com/2023/01/25/ec-proposes-increasing-financial-aid-for-moldova-by-up-to-145m-euro/
Romania Insider, 10/05/2023: EU approves new financial aid for Moldova https://www.romania-insider.com/eu-approves-new-financial-aid-moldova-may-2023
Radio Moldova, 30/05/2023: EU doubles financial assistance to Moldova https://radiomoldova.md/p/13601/eu-doubles-financial-assistance-to-moldova
Reuters, 30/05/2023: EU doubles financial aid to Moldova to 295 million euros https://www.reuters.com/world/europe/eu-doubles-financial-aid-moldova-295-mln-euros-2023-05-30/

Official
EUR-LEX: COM(2023053: Proposal for a Decision amending Decision (EU) 2022/563 as regards the amount of macro-financial assistance to the Republic of Moldova https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2023:53:FIN
EUR-LEX: SWD(2023)25: Staff Working Document accompanying the Proposal - Ex-Ante Evaluation Statement https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=SWD:2023:25:FIN
European Parliament: Legislative Observatory: Procedure File for Proposal on Macro-financial assistance to Moldova (2023/0018(COD)) https://oeil.secure.europarl.europa.eu/oeil/popups/ficheprocedure.do?lang=en&reference=2023/0018(COD)
European Commission: International Economic Relations: Neighbourhood Countries: Moldova https://economy-finance.ec.europa.eu/international-economic-relations/candidate-and-neighbouring-countries/neighbouring-countries-eu/neighbourhood-countries/moldova_en
General Secretariat of the Council: Policies: EU relations with the Republic of Moldova https://www.consilium.europa.eu/en/policies/eastern-partnership/moldova/
European Commission: Press Release, 24/01/2023: EU-Moldova: Commission proposes to increase Macro-financial Assistance for Moldova by up to €145 million https://ec.europa.eu/commission/presscorner/detail/en/ip_23_343
EU EEAS: EU Delegation to Moldova: News, 24/01/2023: EU-Moldova: Commission proposes to increase Macro-financial Assistance for Moldova by up to €145 million https://www.eeas.europa.eu/delegations/moldova/eu-moldova-commission-proposes-increase-macro-financial-assistance-moldova-%E2%82%AC145_en
European Parliament: Press Release, 23/03/2023: Parliament approves €150 million in assistance to Moldova https://www.europarl.europa.eu/news/en/press-room/20220321IPR25920/
Council of the European Union: Press Release, 30/05/2023: Council nearly doubles the EU’s financial assistance to Moldova to a total of €295 million https://www.consilium.europa.eu/en/press/press-releases/2023/05/30/council-nearly-doubles-the-eus-financial-assistance-to-moldova-to-a-total-of-295-million/

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Record URL https://www.europeansources.info/record/?p=527203