OREANDA-NEWS. May 11, 2009. “The European Commission is ready to provide micro-financial assistance to Moldova, which will depend on the results of IMF’s mission”, - said the Director of Department for External Relations of European Commission Reinhold Hack.

Hack has explained that the financial assistance of EU can be provided in form of the "external loan guarantees", as the part of the financial package, the negotiations on which can be held between the Moldovan authorities, the IMF and the World Bank in May.

He noted that the Republic of Moldova is seriously affected by the economic crisis that resulted in 25% drop in industrial production and the budget deficit of 10% of GDP, as well as in sharp reduction in remittances from abroad.

The European official said that EU aid will depend on the success of Moldova in the field of democracy and the rule of law. "There is a willingness on behalf of European Commission to support Moldova politically and financially, but Chisinau must also have to do his “homework”, - said Reinhold Hack