EU approves €1.8b plan to boost Moldova’s economy

The European Commission has adopted a comprehensive €1.8 billion growth plan for the Republic of Moldova, marking the largest EU financial support package since the country’s independence.

The initiative, underpinned by a Reform and Growth Facility for 2025-2027, aims to bolster Moldova’s economy, accelerate its path towards EU membership, and provide significant financial assistance.

The Moldova Growth Plan is structured around three key pillars:

1. Increased Financial Assistance: Over the next three years, the plan will support infrastructure projects, including new roads and energy security initiatives. This includes completing electricity powerlines linking Moldova to the EU and constructing two hospitals in Cahul and Balti.

2. Access to the EU Single Market: The plan outlines immediate steps for Moldova to benefit from the EU’s single market in areas such as trade, transport, energy, and digital services, contingent on meeting required standards.

3. Support for Socio-Economic Reforms: The plan promotes reforms aimed at enhancing economic competitiveness and resilience, attracting foreign investment, and improving the business environment.

European Commission President Ursula von der Leyen emphasised the EU’s commitment to Moldova, stating that the support package could double the country’s economy within a decade. The investment focuses on jobs, growth, and essential infrastructure, aiming to integrate Moldova more closely with the European Union.

Attribution: The European Commission

Subediting: M. S. Salama