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EU Provides Final Green Light To Creating آ€1.9 Bln Moldova Facility
(MENAFN- Kuwait News Agency (KUNA))
BRUSSELS, March 18 (KUNA) -- The European Council approved on Tuesday the creation of the "Reform and Growth Facility" for the Republic of Moldova, a new tool to support EU-related reforms and economic growth in the country, valued at آ€1.9 billion.
The Council stated in a press release that this new financial package is the largest EU support package provided to Moldova since its independence, and it comes in addition to the substantial support the EU already offers the country.
The package will contribute to strengthening Moldovaآ's Economy and bringing the country closer to EU membership by accelerating reforms. It will also help Moldova face challenges arising from the Russian-Ukrainian war and what the EU calls Russiaآ's "ongoing attempts to destabilize Moldova".
This facility is the financial pillar of the Moldova Growth Plan presented by the Commission in October 2024. It will support Moldova during the period from 2025 to 2027 and is expected to provide up to آ€385 million in grants and آ€1.5 billion in loans.
The facility will assist Moldova in implementing EU-related reforms, as well as in accelerating growth and achieving economic convergence with the EU. It will also play a crucial role in the implementation of the EUآ's comprehensive strategy on Moldovaآ's energy independence and resilience, which aims to decouple Moldova from the insecurity of Russian energy supplies and fully integrate the country into the European energy market. (end)
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The Council stated in a press release that this new financial package is the largest EU support package provided to Moldova since its independence, and it comes in addition to the substantial support the EU already offers the country.
The package will contribute to strengthening Moldovaآ's Economy and bringing the country closer to EU membership by accelerating reforms. It will also help Moldova face challenges arising from the Russian-Ukrainian war and what the EU calls Russiaآ's "ongoing attempts to destabilize Moldova".
This facility is the financial pillar of the Moldova Growth Plan presented by the Commission in October 2024. It will support Moldova during the period from 2025 to 2027 and is expected to provide up to آ€385 million in grants and آ€1.5 billion in loans.
The facility will assist Moldova in implementing EU-related reforms, as well as in accelerating growth and achieving economic convergence with the EU. It will also play a crucial role in the implementation of the EUآ's comprehensive strategy on Moldovaآ's energy independence and resilience, which aims to decouple Moldova from the insecurity of Russian energy supplies and fully integrate the country into the European energy market. (end)
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