natgillin/translations-raw huggingface dataset:
The final recipient of the funds will be the Ministry of Finances of Moldova.
The final recipient of the funds will be the Ministry of Finances of Moldova.
Финансовите средства се изплащат на Националната банка на Молдова и се записват като "Извънредна финансова помощ от Европейския съюз".
The funds shall be paid to the National Bank of Moldova and recorded under the heading "Exceptional financial assistance from the European Union" .
Крайният получател на финансовите средства е Министерството на финансите на Молдова.
The final recipient of the funds will be the Ministry of Finances of Moldova.
The implementation of this assistance shall take place in accordance with the provisions of the Financial Regulation applicable to the General Budget of the European Communities and its implementing rules.
The implementation of this assistance shall take place in accordance with the provisions of the Financial Regulation applicable to the General Budget of the European Communities and its implementing rules.
In particular, the Memorandum of Understanding and the Grant Agreement to be agreed with the authorities of Moldova shall provide for appropriate measures by Moldova related to the prevention of and the fight against fraud, corruption and other irregularities linked to this assistance.
In particular, the Memorandum of Understanding and the Grant Agreement to be agreed with the authorities of Moldova shall provide for appropriate measures by Moldova related to the prevention of and the fight against fraud, corruption and other irregularities linked to this assistance.
It shall also provide for controls by the Commission, including the European Anti-Fraud Office (OLAF), with the right to perform on the spot checks and inspections, and for audits by the Court of Auditors, where appropriate, to be carried out on the spot.
It shall also provide for controls by the Commission, including the European Anti-Fraud Office (OLAF), with the right to perform on the spot checks and inspections, and for audits by the Court of Auditors, where appropriate, to be carried out on the spot.
Изплащането на тази помощ се осъществява в съответствие с разпоредбите на Финансовия регламент, приложим към Общия бюджет на Европейските общности и правилата му за прилагане.
The implementation of this assistance shall take place in accordance with the provisions of the Financial Regulation applicable to the General Budget of the European Communities and its implementing rules.
По-специално, Меморандума за разбирателство и Споразумението за безвъзмездна помощ, които трябва да бъдат договорени с властите на Молдова предвижда специфични мерки, които да бъдат предприети от Молдова по отношение на предотвратяването на и борбата с измамите, корупцията и други нередности, които могат да бъдат свързани с тази помощ.
In particular, the Memorandum of Understanding and the Grant Agreement to be agreed with the authorities of Moldova shall provide for specific measures to be implemented by Moldova related to the prevention of and the fight against fraud, corruption and other irregularities that may be linked to this assistance.
С цел гарантиране на по-голяма степен на прозрачност в управлението и изплащането на средствата, в тях ще бъдат предвидени, също така и контрол от страна на Комисията, включително от Службата за борба с измамите (OLAF), с правото да извършват проверки и инспекции на място, както и за одита от страна на Сметната палата, да бъде провеждан на място при необходимост.
In order to ensure greater transparency in the management and disbursement of funds, it shall also provide for controls by the Commission, including the European Anti-Fraud Office (OLAF), with the right to perform on‑the‑spot checks and inspections, and for audits by the Court of Auditors, where appropriate, to be carried out on the spot.
By 31 August of each year the Commission shall submit to the European Parliament and to the Council a report, including an evaluation on the implementation of this Decision in the previous year.
By 31 August of each year the Commission shall submit to the European Parliament and to the Council a report, including an evaluation on the implementation of this Decision in the previous year.
До 31 август всяка година, Комисията предава на заинтересованите комисии на Европейския парламент и на Съвета доклад, съдържащ оценка на изпълнението на настоящето решение през предишната година.
By 31 August of each year the Commission shall submit to the relevant Committees of the European Parliament and to the Council a report, including an evaluation on the implementation of this Decision in the previous year.
Този доклад следва да уточнява връзката между целите, установени в член 2, параграф 1, показателите за икономическо и фискално развитие на Молдова, и решението на Комисията да започне изплащането на вноските по тази финансова помощ.
That report shall specify the linkage between the targets set out in Article 2(1), Moldova 's ongoing economic and fiscal performance and the Commission's decision to release the instalments of this assistance.
Член 5а (нов)
Article 5 a (new)
Член 5а
Article 5a
Не по-късно от две години след изтичане на периода за отпускане на финансовата помощ, осигурена с това Решение, Комисията предава на Европейския парламент и на Съвета доклад за ex-post оценка.
No later than two years after the expiry of the implementation period of the assistance provided for in this Decision, the Commission shall submit to the European Parliament and the Council an ex-post evaluation report.
The rationale of the Commission's proposal
The rationale of the Commission's proposal
The Commission proposal intends to provide macro-financial assistance to Moldova (in the form of a grant of a maximum amount of EUR 45 million) with a view to supporting Moldova's balance of payments and the reserve build-up.
The Commission proposal intends to provide macro-financial assistance to Moldova (in the form of a grant of a maximum amount of EUR 45 million) with a view to supporting Moldova's balance of payments and the reserve build-up.
The proposed assistance will help Moldova alleviate the financial constraints on the implementation of its economic programme.
The proposed assistance will help Moldova alleviate the financial constraints on the implementation of its economic programme.
It will also encourage the authorities' efforts to implement reforms under the EU-Moldova European Neighbourhood Policy Action Plan and the Economic Growth and Poverty Reduction Strategy Paper.
It will also encourage the authorities' efforts to implement reforms under the EU-Moldova European Neighbourhood Policy Action Plan and the Economic Growth and Poverty Reduction Strategy Paper.
The proposed macro-financial assistance which is intended to be exceptional and limited in time, also tackles the recent deterioration of country's economy and the declining trade balance mostly due to external factors such increase of energy prices and import restrictions on certain key agricultural products (wine) imposed by Russia.
The proposed macro-financial assistance which is intended to be exceptional and limited in time, also tackles the recent deterioration of country's economy and the declining trade balance mostly due to external factors such increase of energy prices and import restrictions on certain key agricultural products (wine) imposed by Russia.
In the past the EU has provided on several occasions macro-financial assistance (MFA) to Moldova aimed at responding to balance-of-payments shocks.
In the past the EU has provided on several occasions macro-financial assistance (MFA) to Moldova aimed at responding to balance-of-payments shocks.
Background and the role of the IMF
Background and the role of the IMF
In May 2006 the IMF Board approved a three-year financing arrangement under the Poverty Reduction and Growth Facility (PRGF).
In May 2006 the IMF Board approved a three-year financing arrangement under the Poverty Reduction and Growth Facility (PRGF).
The approval of the arrangement was followed by an agreement with the Paris Club of Moldova's official creditors on a restructuring of accumulated arrears and current payments falling due in the period of the programme on the so-called Houston terms.
The approval of the arrangement was followed by an agreement with the Paris Club of Moldova's official creditors on a restructuring of accumulated arrears and current payments falling due in the period of the programme on the so-called Houston terms.
Helping the government normalise Moldova's relations with the official creditors was one of the key objectives of the arrangement.
Helping the government normalise Moldova's relations with the official creditors was one of the key objectives of the arrangement.
The PRGF programme is designed to maintain macroeconomic stability and in this way to support growth and poverty reduction, particularly in the context of continued strong inflows of remittances and substantially higher prices for imported energy.
The PRGF programme is designed to maintain macroeconomic stability and in this way to support growth and poverty reduction, particularly in the context of continued strong inflows of remittances and substantially higher prices for imported energy.
Under the programme, the authorities are committed to limit the budget deficit to 0.5% of GDP and the National Bank is aiming at increasing foreign exchange reserves to three months of imports by end-2008.
Under the programme, the authorities are committed to limit the budget deficit to 0.5% of GDP and the National Bank is aiming at increasing foreign exchange reserves to three months of imports by end-2008.
The priority structural policy measures include in particular actions in the areas of foreign trade liberalisation, corporate governance, banking sector reform and tax administration.
The priority structural policy measures include in particular actions in the areas of foreign trade liberalisation, corporate governance, banking sector reform and tax administration.
The recent economic developments in Moldova require some adjustments of the PRGF programme and additional exceptional financing, on top of the financing currently available.
The recent economic developments in Moldova require some adjustments of the PRGF programme and additional exceptional financing, on top of the financing currently available.
The commercial and economic context of Moldova
The commercial and economic context of Moldova
Moldova remains one of the poorest countries in Europe despite recent progress from its small economic base.
Moldova remains one of the poorest countries in Europe despite recent progress from its small economic base.
It enjoys a favourable climate and good farmland but has no major mineral deposits.
It enjoys a favourable climate and good farmland but has no major mineral deposits.
As a result, the economy depends heavily on agriculture, featuring fruits, vegetables, wine, and tobacco.
As a result, the economy depends heavily on agriculture, featuring fruits, vegetables, wine, and tobacco.
Moldova imports almost all of its energy supplies mainly from Russia.
Moldova imports almost all of its energy supplies mainly from Russia.
Energy shortages contributed to sharp production declines after the break-up of the Soviet Union in December 1991.
Energy shortages contributed to sharp production declines after the break-up of the Soviet Union in December 1991.
As part of an ambitious reform effort after independence, Moldova introduced a convertible currency, freed prices, stopped issuing preferential credits to state enterprises, backed steady land privatization, removed export controls, and freed interest rates.
As part of an ambitious reform effort after independence, Moldova introduced a convertible currency, freed prices, stopped issuing preferential credits to state enterprises, backed steady land privatization, removed export controls, and freed interest rates.
The economy returned to positive growth in 2000, and has remained at or above 7 % every year since.
The economy returned to positive growth in 2000, and has remained at or above 7 % every year since.
By 2005, Moldova's GDP per capita had more than doubled compared to its 2000 levels but remains the lowest in Europe.
By 2005, Moldova's GDP per capita had more than doubled compared to its 2000 levels but remains the lowest in Europe.
Towards 2004-2005, Moldova restarted a process of structural reforms, notably with the adoption by the government of the above referred Economic Growth and Poverty Reduction Strategy Paper (EGPRSP).
Towards 2004-2005, Moldova restarted a process of structural reforms, notably with the adoption by the government of the above referred Economic Growth and Poverty Reduction Strategy Paper (EGPRSP).
The government’s commitment to reforms has been reinforced by its European aspirations, confirmed by the adoption in February 2005 of the EU-Moldova European Neighbourhood Policy (ENP) Action Plan.
The government’s commitment to reforms has been reinforced by its European aspirations, confirmed by the adoption in February 2005 of the EU-Moldova European Neighbourhood Policy (ENP) Action Plan.
The Moldova's trade balance deteriorated significantly in 2005 and 2006, owing in large part to the impact of higher energy prices.
The Moldova's trade balance deteriorated significantly in 2005 and 2006, owing in large part to the impact of higher energy prices.
Energy (particularly fuel oil) imports rose in value terms by about 50 percent in 2005 (to about 5 percent of GDP), while export growth slowed modestly.
Energy (particularly fuel oil) imports rose in value terms by about 50 percent in 2005 (to about 5 percent of GDP), while export growth slowed modestly.
The economic recovery of Moldova is seriously hindered by the unsettled question of the Transdnistrian territories.
The economic recovery of Moldova is seriously hindered by the unsettled question of the Transdnistrian territories.
Transdnistria has a considerable share from trade and the revenues arising from this, such as customs duties, taxes, do not flow into the budget of Moldova but remains entirely at disposal of the local establishment.
Transdnistria has a considerable share from trade and the revenues arising from this, such as customs duties, taxes, do not flow into the budget of Moldova but remains entirely at disposal of the local establishment.
In 2006, trade balance worsened after Russia's decision to ban imports of wine and spirits from Moldova (which has not been extended to Transdnistria).
In 2006, trade balance worsened after Russia's decision to ban imports of wine and spirits from Moldova (which has not been extended to Transdnistria).
Without the Russian market, the Moldovan wine industry, which contributes around 25 percent to the country's GDP, has entered a serious crisis which severely impacted on the Moldova's fragile economy and on reform process.
Without the Russian market, the Moldovan wine industry, which contributes around 25 percent to the country's GDP, has entered a serious crisis which severely impacted on the Moldova's fragile economy and on reform process.
According to data available, some 80 percent of all Moldova-produced wine was traditionally exported to Russia.
According to data available, some 80 percent of all Moldova-produced wine was traditionally exported to Russia.
Rationale of the amendments
Rationale of the amendments
While entirely in agreement with the need to provide Moldova with exceptional MFA, the rapporteur has proposed several amendments in order to improve the clarity, transparency and accountability of the draft proposal.
While entirely in agreement with the need to provide Moldova with exceptional MFA, the rapporteur has proposed several amendments in order to improve the clarity, transparency and accountability of the draft proposal.
The amendments can be summarised along the following main elements:
The amendments can be summarised along the following main elements:
· General Principles that should be explicitly addressed in the recitals (in line with the Genval principles): this exceptional macro-financial assistance should be strictly complementary to the existing financing coming from (i) the Bretton Woods institutions, (ii) the Paris Club debt restructuring, (iii) budget provided by the bilateral donors and the Community under the Food Security Programme ; At the same time it should offer value added vis-à-vis the IFIs programmes and resources, be coherent with the different areas of external action and other relevant Community policies, conditional on meeting certain requirements and carefully monitored and evaluated in order to prevent fraud and financial irregularities .
· General Principles that should be explicitly addressed in the recitals (in line with the Genval principles): this exceptional macro-financial assistance should be strictly complementary to the existing financing coming from (i) the Bretton Woods institutions, (ii) the Paris Club debt restructuring, (iii) budget provided by the bilateral donors and the Community under the Food Security Programme ; At the same time it should offer value added vis-à-vis the IFIs programmes and resources, be coherent with the different areas of external action and other relevant Community policies, conditional on meeting certain requirements and carefully monitored and evaluated in order to prevent fraud and financial irregularities .
· its core objective should be explicitly explained: to cover a funding gap in the Moldova's balance of payments thus helping Moldova in overcoming the difficult economic juncture caused by a significant deterioration of Moldova's external environment (increase in energy prices, Russia's ban on imports of wine and spirits from Moldova);
· its core objective should be explicitly explained: to cover a funding gap in the Moldova's balance of payments thus helping Moldova in overcoming the difficult economic juncture caused by a significant deterioration of Moldova's external environment (increase in energy prices, Russia's ban on imports of wine and spirits from Moldova);
· the conditionality associated with this particular grant should be explicitly spelled out in the Council decision, linked to specific benchmarks, and based also on progress in the implementation of the IMF-supported PRGF arrangement;
· the conditionality associated with this particular grant should be explicitly spelled out in the Council decision, linked to specific benchmarks, and based also on progress in the implementation of the IMF-supported PRGF arrangement;
· internal auditors should be engaged to carry out an independent assessment of this particular instance of MFA;
· internal auditors should be engaged to carry out an independent assessment of this particular instance of MFA;
· the Moldovan government should undertake all appropriate measures aiming at suppressing risk of frauds, corruption and fund's misuse;
· the Moldovan government should undertake all appropriate measures aiming at suppressing risk of frauds, corruption and fund's misuse;
· Moldova should be assisted to improve quality and food security in the wine-making sector since the Russian authorities explained the ban on wine imports by non-compliance with certain phytosanitary requirements.
· Moldova should be assisted to improve quality and food security in the wine-making sector since the Russian authorities explained the ban on wine imports by non-compliance with certain phytosanitary requirements.
The role of the European Parliament should be enhanced.
The role of the European Parliament should be enhanced.
In particular, the Commission should improve its reporting to Parliament as concerns the actual implementation of this aid instrument and provide Parliament with an ex-post evaluation report.
In particular, the Commission should improve its reporting to Parliament as concerns the actual implementation of this aid instrument and provide Parliament with an ex-post evaluation report.
The role of the EP in MFA
The role of the EP in MFA
The rapporteur would like to stress, in line with previous EP resolutions, that such a substantial instrument as MFA cannot be simply regarded as "exceptional".
The rapporteur would like to stress, in line with previous EP resolutions, that such a substantial instrument as MFA cannot be simply regarded as "exceptional".
I t is therefore unjustifiable that such an instrument lacks a regular legal basis and continues to be based on ad hoc Council decisions for each operation.
I t is therefore unjustifiable that such an instrument lacks a regular legal basis and continues to be based on ad hoc Council decisions for each operation.
A co-decided framework regulation on MFA is necessary in order to enhance transparency, accountability, monitoring and reporting systems.
A co-decided framework regulation on MFA is necessary in order to enhance transparency, accountability, monitoring and reporting systems.
on the proposal for a Council decision providing macro-financial assistance for Moldova
on the proposal for a Council decision providing macro-financial assistance for Moldova
The purpose of the legislative measure is to provide macro-financial assistance to Moldova in the form of a grant amounting to a maximum of EUR 45 million with a view to supporting Moldova's balance of payments and the reserve build-up.
The purpose of the legislative measure is to provide macro-financial assistance to Moldova in the form of a grant amounting to a maximum of EUR 45 million with a view to supporting Moldova's balance of payments and the reserve build-up.
It will also facilitate and encourage the authorities' efforts to implement reforms under the EU-Moldova European Neighbourhood Policy Action Plan and the Economic Growth and Poverty Reduction Strategy Paper.
It will also facilitate and encourage the authorities' efforts to implement reforms under the EU-Moldova European Neighbourhood Policy Action Plan and the Economic Growth and Poverty Reduction Strategy Paper.
This assistance should be perceived in the wider perspective of Moldova's economic difficulties due to the changes in the external economic environment.
This assistance should be perceived in the wider perspective of Moldova's economic difficulties due to the changes in the external economic environment.
The proposed macro-financial assistance will be exceptional and limited in time, complementary to support from the Bretton Woods Institutions, bilateral donors and the Paris Club, and conditional, in particular, on progress in the implementation of the IMF-supported Poverty Reduction and Growth Facility arrangement.
The proposed macro-financial assistance will be exceptional and limited in time, complementary to support from the Bretton Woods Institutions, bilateral donors and the Paris Club, and conditional, in particular, on progress in the implementation of the IMF-supported Poverty Reduction and Growth Facility arrangement.
The assistance will be made available in three instalments over a period of two years.
The assistance will be made available in three instalments over a period of two years.
It is to be financed from commitment appropriations in 2007, subject to final approval of the 2007 EC Budget, with payments taking place in 2007 and 2008.
It is to be financed from commitment appropriations in 2007, subject to final approval of the 2007 EC Budget, with payments taking place in 2007 and 2008.
Indicative breakdown of the expenditure in the two years in question is presented in the table below:
Indicative breakdown of the expenditure in the two years in question is presented in the table below:
(in EUR)
(in EUR)
45 000 000
45 000 000
30 000 000
30 000 000
15 000 000
15 000 000
The assistance will be financed under heading 4, from budget line 01 03 02 - Macroeconomic assistance.
The assistance will be financed under heading 4, from budget line 01 03 02 - Macroeconomic assistance.
The appropriations available on this budget line for 2007, at the present stage of the budgetary procedure and subject to the final adoption of the budget, amount to EUR 58 200 000 in commitment appropriations.
The appropriations available on this budget line for 2007, at the present stage of the budgetary procedure and subject to the final adoption of the budget, amount to EUR 58 200 000 in commitment appropriations.