Article 3

The Community Macro-financial assistance shall be made available by the Commission to Moldova in three instalments.

The first instalment shall be released on the basis of satisfactory implementation of the economic programme supported by the IMF under the Poverty Reduction and Growth Facility and of the EU-Moldova European Neighbourhood Policy Action Plan.

The second and third instalments shall also be released on the basis of satisfactory implementation of the economic programme supported by the IMF under the Poverty Reduction and Growth Facility and of the EU-Moldova European Neighbourhood Policy Action Plan, and on the basis of any other measures agreed with the Commission as set out in Article 2(1), and not less than three months after the release of the previous instalment.

The funds shall be paid to the National Bank of Moldova. The final recipient of the funds shall be the Ministry of Finances of Moldova.