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Romanian President Klaus Iohannis sent the Parliament for re-examination on Monday a law on giving repayable financial assistance to the Republic of Moldova, arguing it is not a timely act, given that there is uncertainty in Chisinau as to the continuation of the reforms and as to meeting the commitments made for the implementation of the EU Association Agreement.

"Considering the Common Declaration on setting up a strategic partnership between Romania and the Republic of Moldova for the European integration of the Republic of Moldova signed in Bucharest on April 27, 2010 and given the current political circumstances in the Republic of Moldova — that came after the adoption of the mentioned law by the Parliament of Romania—, we consider that the promulgation of the Law on the ratification of the Agreement on the repayable financial assistance between Romania and the Republic of Moldova signed in Chisinau on October 7, 2015 is not timely as long as there is the uncertainty regarding the continuation of reforms and meeting the commitments made for the implementation of the Association Agreement between the European Union and the European Atomic Energy Community and their member states on the one hand and the Republic of Moldova, on the other, signed in Brussels on June 27, 2014", the re-examination request says.

The Romanian head of state explains in the request sent the Speaker of the Deputies' Chamber Valeriu Zgonea that the law targets the ratification of a deal on repayable financial assistance totalling up to 150 million euros from the available amounts resulting from the privatisation process recorded in the forex current account balance opened at the National Bank of Romania.

Furthermore, the law says such repayable financial assistance is granted Moldova to fund its budget deficit and re-finance the state debt and the loan shall be extended in no more than three tranches, with each one maturing in five years at the utmost.AGERPRES