Romania offers Moldova $65 million loan to spur reforms

Romanian Prime Minister Dacian Ciolos offered Moldova a 60 million euro ($65 million) loan to help prevent economic collapse in the former Soviet republic, AP reports. Conditions on the loan stipulate Moldova must reform its justice system, fight corruption, sign a draft agreement for an IMF loan and appoint a new central bank governor. Moldova has gone through three governments and has been on the verge of economic collapse since more than $1 billion disappeared from three Moldovan banks in 2014. Pro-EU parties have since maintained control of the government, but they are facing frequent protests, and pro-Russian parties have been gaining ground in polls.


Read original source.