Moldova's Reform and Growth Fund with the cost of EUR 1.9 billion will boost its economy and bring the country closer to EU membership by accelerating reforms - European Commission
This is stated in a statement by the EC, which welcomed the political agreement reached yesterday evening between the European Parliament and the Council of the European Union on the Regulation establishing a Reform and Growth Fund for Moldova, one of the key pillars of the Growth Plan for Moldova, proposed by the European Commission in October 2024. This plan is the largest EU financial assistance package since Moldova gained independence. As noted by the European Commission, it will boost Moldova's economy, provide significant financial assistance and bring the country closer to EU membership by accelerating reforms. The Reform and Growth Fund for Moldova will provide financial assistance of EUR 1.9 billion based on the Reform Agenda for Moldova, which sets out the main socio-economic and fundamental reforms that our country intends to implement to accelerate growth and convergence with the EU, as well as priority investment needs. The fund will cover all sectors that are vital for promoting Moldova’s economic growth and its integration into the EU single market. The funds will be allocated twice a year based on applications from the Moldovan government and after the Commission has verified that all relevant conditions set out in the Reform Agenda have been met. The political agreement reached now needs to be formally adopted by the European Parliament and the Council. The Regulation on the Moldova Reform and Growth Fund will enter into force the day after its publication in the Monitorul Official. The support under the Reform and Growth Fund will complement the two-year Comprehensive Strategy for Energy Independence and Resilience of Moldova, announced on 4 February, which aims to make the country’s energy market more resilient, economically viable and fully independent of Russian energy sources by the end of 2026. “The EU stands with Moldova and its people. We want to bring the country closer to our union as quickly as possible. The €1.9 billion Fund is a key step in this direction. It will contribute to economic growth, strengthening reforms and Moldova's accession to the European Union," said European Commissioner for Enlargement Marta Kos.// 20.02.2025 — InfoMarket
