OREANDA-NEWS. September 02, 2010. European Parliament's Committee on International Trade supported the initiative of the corresponding grant allocation to Moldova totaling to EUR90 million. The final decision on release of these funds will be taken at the plenary meeting of the European Parliament in Strasbourg on September 7, 2010.

The grant will be made available in three or four tranches: two in 2010 and the rest in 2011. The money is earmarked for covering the balance-of-payments deficit of the country and budget deficit of Moldova. The EU grant will supplement the financial support already provided to Moldova by the International Monetary Fund, the World Bank and other financial organizations and country-donors.

Members of the European Parliament's Committee on International Trade insisted that Parliament must be regularly informed by the Commission on how the assistance is managed and whether the principles of efficiency, transparency and accountability are being observed.