Brussels (Brussels Morning Newspaper) – The EU Commission assumes a €1.8 billion package to support Moldova’s path to the EU.
The European Commission adopted a Growth Plan for the Republic of Moldova for around €1.8 billion underpinned by a Reform and Growth Facility for the period 2025-2027. The Plan, which is the most extensive EU financial support package since Moldova’s independence, will strengthen Moldova’s economy, bring the nation closer to EU membership by accelerating reforms, and deliver significant financial assistance.
What are the key pillars of Moldova’s growth plan?
According to the Commission, the Moldova Growth Plan is established on three pillars, sought to increase financial assistance over the next three years via a dedicated Reform and Growth Facility for Moldova, based on the upcoming Reform Agenda and of concerned priority investment needs with Moldova. The plan includes enhancing access to the European Union’s single market. The Moldova Growth Plan offers immediate steps that Moldova can take to reap the advantages of the single market. Supporting Moldova’s socio-economic and fundamental reforms are also part of the growth plan.
What reforms are targeted under Moldova’s growth facility plan?
Moldova is embarking on reforms for socio-economic development, making key economic growth drivers: economic competitiveness; economic stability, including infrastructure and energy; economic management; social capital; and the green transition. The reforms will draw foreign investment, enhance the business environment, support small and medium-sized enterprises, improve skillfulness and qualifications, and boost trade and exports thus boosting economic growth and improving the economic convergence with the EU.
What did the Commission president express regarding the plan?
In her remarks, the European Commission President Ursula von der Leyen expressed: “Europe stands firmly by Moldova’s side – today and every stage of the way on the path to our Union. We can start carrying the Moldovan economy closer to ours already now. Today I’m in Chișinău to present a support package with the potential of doubling the extent of the country’s economy in a decade. To do so we invest in jobs, growth, services and infrastructure – from new hospitals in Balti and Cahul to the road from the capital to Odesa. We open the doors to our Single Market to Moldovan companies. And we support Moldova’s reform efforts.”
In the next steps, It is now for the European Parliament and the Council to discuss the European Commission’s proposal for the Growth Facility for Moldova. Once assumed, Moldova will be invited to present its Reform Agenda summarising the key socio-economic and fundamental reforms it plans to undertake to accelerate growth and convergence with the EU.
