Romania will lend EUR 60 million to the Republic of Moldova on August 24. It will be the first installment of a reimbursable loan of up to EUR 150 million for the neighboring country, said yesterday the Government spokesperson Liviu Iolu.

To get the EUR 60 million, Moldova needs to set the roadmap for reaching a deal with the IMF and come up with laws that could improve the local business environment. Besides that, Moldova has to analyze its banking system’s vulnerabilities and set deadlines for fixing them.

The loan agreement was signed by Romania’s and Moldova’s Prime Ministers in October last year, in Chisinau, and approved by Romania’s Parliament in mid-October. President Klaus Iohannis later asked the Parliament to review the loan, arguing that the loan was not advisable given the recent political changes in Moldova.

editor@romania-insider.com