Romania Offers Moldova $60 Million Loan to Spur Reforms


The Romanian government has offered Moldova a loan of 60 million euros ($65 million) to prevent economic collapse in the impoverished ex-Soviet republic.

But Romanian Prime Minister Dacian Ciolos said Tuesday that Moldova will have to fight corruption and make other reforms if it is to get the money.

Ciolos made the announcement during a visit by Moldova's Prime Minister Pavel Filip.

Moldova, a small country wedged between European Union-member Romania and Ukraine, is Europe's poorest nation. It Moldova has been riven for months by political turmoil sparked by the disappearance of more than $1 billion from three Romanian banks, fraud in which a former prime minister, Vlad Filat, has been implicated.

Moldovans furious at corruption have been waging protests recently, even storming Parliament earlier this month.

Copyright AP - Associated Press
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