European Parliament Agrees New Support Plan for Moldova: Almost 2bln Euros

The European Parliament and EU member states have agreed on a new support plan for Moldova worth 1.9 billion euros. This was reported in the evening of 19 February. The statement said that this mechanism is aimed at accelerating socio-economic reforms, strengthening sustainability and promoting EU integration, tv8.md wrote. It is designed to help Moldova cope with challenges, mitigate the security and economic impact of Russia’s war against Ukraine, and strengthen the country’s resilience against hybrid attacks and foreign interference in democratic processes. The European Parliament has thus agreed on 520 million euros in the form of a grant and 1.5 billion euros in the form of a low-interest loan. The mechanism provides pre-funding of 18% of the total support, up from 7% initially, which will allow resources to be mobilized quickly to address energy security and modernize public services. 20% of the grants will be used to strengthen Moldova’s institutions through digital governance systems, civil servant training and judicial reforms.