Moldova will have access to over 86.7 million euros in European grant funding to modernize the country's cities according to the European model
In particular, this is stipulated by the financing agreement between Moldova, the European Commission and the French National Agency for Territorial Cohesion for the URBACT IV program for 2021-2027, the draft ratification of which was approved by the Moldovan Cabinet. According to the government, within this agreement, Moldova will have access to European financing and modern solutions for the development of cities, improvement of infrastructure and enhancement of people's quality of life. Under the program, Moldova will benefit from concrete projects that will transform cities and contribute to the creation of greener and more prosperous communities. Funding will be available to modernize public transportation with a focus on sustainability, develop parks and other public spaces, reduce pollution and improve energy efficiency. In doing so, our country's cities will benefit from supporting the development of effective public policies based on sharing best practices at the European level. The conclusion of the agreement opens the possibility for the beneficiaries of the program from the participating countries to get access to financial resources in the form of a grant of 86 million 769 thousand 799 euros for the implementation of joint projects implemented on the basis of the principle of partnership. At the same time, the agreement provides for co-financing of the activities envisaged in the projects by the beneficiaries in the amount of at least 10% of the project budget. Thus, the total budget of the program is 110 million 100 thousand 574 euros. The national contribution of the participating countries amounts to 23 million 330 thousand 775 euros. The agreement is important for Moldova's economy, as it facilitates access to external financing, which can stimulate the development of cities and infrastructure. The Financing Agreement opens a favorable perspective for the development of economic relations within the framework of territorial cooperation, opening new opportunities for international cooperation. Direct benefits for the Moldovan economy include investments in urban infrastructure and improved quality of urban life. Indirect benefits include increased attractiveness of cities and possible foreign investments. At the same time, through the specific targets selected for financing by the program, projects that will contribute to environmental protection and combat the effects of climate change will also be financed. The agreement provides a favorable prospect for the development of economic relations within the framework of territorial cooperation and opens new opportunities for international cooperation. // 06.02.2025 - InfoMarket
