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Decision (EU) 2022/563 of the European Parliament and of the Council of 6 April 2022 providing macro-financial assistance to the Republic of Moldova article 4 CELEX: 02022D0563-20230619 1. Subject to the conditions referred to in paragraph 3, the Union’s macro-financial assistance shall be made available by the Commission in five instalments, each of which shall consist of a loan and a grant element. The size of each instalment shall be laid down in the MOU which shall be amended for that purpose. 2. The amounts of the Union’s macro-financial assistance provided in the form of loans shall be provisioned, where required, in accordance with Regulation (EU) 2021/947. 3. The Commission shall decide on the release of the instalments subject to the fulfilment of all of the following conditions: (a) the precondition set out in Article 2(1); (b) a continuous satisfactory track record of implementing a policy programme that contains strong adjustment and structural reform measures supported by a non-precautionary IMF credit arrangement; (c) the satisfactory implementation of the economic policy and financial conditions agreed in the MOU. |
Decision (EU) 2022/563 of the European Parliament and of the Council of 6 April 2022 providing macro-financial assistance to the Republic of Moldova article 4 CELEX: 02022D0563-20230619 4. The release of the second instalment shall, in principle, take place at the earliest three months after the release of the first instalment. The release of the third instalment shall, in principle, take place at the earliest three months after the release of the second instalment. The release of the fourth instalment shall, in principle, take place at the earliest three months after the release of the third instalment. The release of the fifth instalment shall, in principle, take place at the earliest three months after the release of the fourth instalment. 5. Where the conditions referred to in paragraph 3 are not met, the Commission shall temporarily suspend or cancel the disbursement of the Union’s macro-financial assistance. In such cases, it shall inform the European Parliament and the Council of the reasons for the suspension or cancellation. 6. The Union’s macro-financial assistance shall be disbursed to the National Bank of Moldova. Subject to the agreed provisions set out in the MOU, including a confirmation of residual budgetary financing needs, the Union funds may be transferred to the Moldovan Ministry of Finance as the final beneficiary. |