EU announces investment package of USD2B to bolster Moldova’s economy
Date
10/13/2024 8:11:28 AM
(MENAFN) On Thursday, the European Union announced an extensive investment package worth €1.8 billion (approximately USD2 billion) aimed at bolstering Moldova’s Economy and supporting its aspirations for EU membership. This funding, set to be disbursed over a three-year period, is designed to enhance Moldova’s infrastructure, energy sector, and public services, creating a foundation for sustainable economic growth in the future.
European Commission President Ursula von der Leyen, during her visit to Chisinau, the capital of Moldova, highlighted the country’s progress in aligning itself with EU values since being granted candidate status in June 2022. "Moldova’s place is in our EU," she stated, commending the efforts made by the nation to integrate with European standards. The investment plan outlines significant projects, including the construction of hospitals in Balti and Cahul, renovations of schools, and upgrades to roads and energy infrastructure, which will improve connectivity between Chisinau, Iasi, and Odesa.
In addition to these projects, the package also includes plans to expand broadband internet access across Moldova, which will enhance the country’s digital infrastructure and facilitate better access to EU markets. Von der Leyen underscored that Moldova’s integration into the EU’s single payment area would benefit small and medium-sized enterprises by enabling faster and more secure financial transactions.
Looking to the future, Von der Leyen encouraged Moldovans to engage in the upcoming referendum on EU membership scheduled for October 20, emphasizing the importance of their participation in shaping the nation’s future. "Moldova’s future lies in your hands," she stated, reaffirming the EU's commitment to supporting Moldova's democratic and economic reforms. In response, Moldovan President Maia Sandu expressed gratitude for the EU’s continued support, particularly during the recent energy crisis heightened by the war in Ukraine. She acknowledged the progress made in fulfilling EU recommendations, with 65 percent of Moldovan products now reaching European markets, while also recognizing the challenges posed by regional instability.
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