The European Union and Moldova sign Reform and Growth Plan for Moldova, the EU's largest financial assistance package worth €1.9 billion
The document was signed by European Commissioner for Enlargement Marta Kos and Moldovan Prime Minister Dorin Recean in the presence of Moldova’s President Maia Sandu. The plan will stimulate Moldova's economy, provide significant financial assistance, and bring the country closer to EU membership by accelerating reforms. As Dorin Recean noted, the Moldova Growth Plan is unprecedented financial assistance for development, which will enable the authorities to raise living standards, modernize state institutions, and invest in economic growth. The Growth Plan includes an ambitious program of institutional modernization in all areas and investments that will develop the national economy and improve people's quality of life. “We have signed a historic agreement to invest in Moldova's future. It is a clear expression of European friendship and solidarity with Moldova. We are already in the middle of the accession process, and our European partners are confident that we will succeed. Thanks to external solidarity and internal unity, we will be ready to become a member state of the European Union not in 10 years, not in 20 years, but in 4 years!” said Dorin Recean. According to him, the Growth Plan involves the implementation of two important components: a reform program and investments. The first component involves business development and the promotion of strategic industries, the modernization of transport and digital infrastructure, increased transparency in the use of public funds, improvements in education, healthcare, and social services, a green transition, energy security and efficiency, and the fight against corruption. The second component includes resources for investments that will develop the national economy and improve people's quality of life. “These are specific national projects that would take decades to implement if we did not receive European assistance,” Prime Minister stressed. According to the head of government, the planned projects include the rehabilitation of local, regional, and district roads, the construction of the Bălți Regional Hospital, the expansion and rehabilitation of forests, and the restoration of collective irrigation systems along the Prut and Dniester rivers. Support will also be provided to entrepreneurs and young workers, who will receive an additional 3,000 lei for their first job in their homeland. “The financial resources provided by the EU must be invested efficiently, fairly, and with maximum transparency. People must see and feel an improvement in their standard of living and gain confidence in Moldova's ability to offer a life of prosperity and democracy,” said Dorin Recean. In turn, Marta Kos emphasized that the signed plan opens up new opportunities for Moldova to double its economy and achieve European living standards. According to her, the Growth Plan is an expression of confidence in Moldova and an investment in a future EU member. Earlier it was reported that the EU-approved Growth Plan for Moldova provides for the allocation of €400 million to our country in the form of an EU grant and €1.5 billion in loans on very favorable terms. Part of the EU loan will be directed to investment projects, and the other part will go as budget support for the payment of pensions, benefits, and compensation. The loan has a maturity of 40 years, with the first 10 years being a grace period during which Moldova will not repay anything from the loan. The interest rate will be low, ranging from 0.1% to just over 3%. Loan repayments will be made subject to strict conditions regarding the achievement of reforms set out in the agreed Reform Program. // 12.02. 2025 — InfoMarket
