REANDA-NEWS. December 18, 2008. The International Monetary Fund intends to allocate Moldova the next tranche amounting to US18 million to Moldova within the frameworks of the poverty reduction and growth facility program (PRGF).

As the permanent representative of IMF in Moldova Johan Mathisen announced, this money will be allocated to Moldova after the IMF Executive Board approves the fifth report on the assessment of implementation of the program within PRGF program and a new Memorandum of Economic and Financial Policies for 2009.

"We hope that provision of the next tranche to Moldova amounting to approximately US 18 million will be approved in early 2009", - said Johan Mathisen.

The poverty reduction and economic growth facility mechanism (PRGF) is a concessional IMF facility for the low-income countries. Loans under PRGF are provided to Moldova at a fixed interest rate of 0.5% p.a., repayable in 10 years, after the grace period of 5.5 years. The total amount of loans that IMF plans to allocate Moldova within PRGF is about US 168 million. Approximately US 133 million have been actually granted to the republic so far.