The Moldovan parliament has approved the government’s decision to take two tranches of loans from the International Monetary Fund (IMF) for a total of about $440 million.

As Report informs, citing the Moldovan media, this was reported by the press service of the legislative body.

An external government loan from the IMF will be attracted through the Extended Credit Facility (ECF) and the Extended Financing Facility (EFF).

The funds are supposed to be used to implement various projects in the fields of infrastructure, energy, healthcare, education, as well as to create new jobs in Moldova. Both loans must be repaid within ten years.

At the same time, through the extended lending mechanism, the republic will receive about $147 million, and the loan must be repaid in ten equal installments, the interest rate will be set every two years.