The Council of Europe Development Bank will provide Moldova with 40 million euros for the implementation of the Project "Emergency response to COVID-19 and support for micro, small and medium enterprises".

According to the agreement, ratified by the Parliament, Moldova will contract a loan worth about 70 million Euros to ensure an effective response in the fight against the COVID-19 pandemic.

The project will be structured in two components: health and support for micro, small and medium enterprises.

40 million Euros will be allocated for the health system. The financial sources will be used for the purchase of medical equipment and consumables, the rehabilitation of medical units, as well as the mobilization of additional expertise to ensure an emergency response to COVID-19.

30 million Euros will be allocated for micro, small and medium enterprises. Funding will be allocated to working capital and investment needs of companies affected by the crisis.

The maximum maturity of the loan for the health component is 15 years and 6 years, respectively, for the micro, small and medium enterprises component.

The Framework Loan Agreement between the Republic of Moldova and the Council of Europe Development Bank for the implementation of the Project “Emergency Response to COVID-19 and Support for Micro, Small and Medium Enterprises” was signed on July 29, 2020.

The law on ratification of the agreement will enter into force once published in the "Official Gazette".