WASHINGTON (dpa-AFX) - The European Commission has adopted a Growth Plan for Moldova worth EUR1.8 billion and underpinned by a Reform and Growth Facility for the period 2025-2027. The Plan, which is the largest EU financial support package since Moldova's independence, will boost its economy, bring the former Soviet Republic closer to EU membership by accelerating reforms, and provide significant financial assistance.
The Moldova Growth Plan is based on three pillars, aimed at increasing financial assistance over the next three years through a dedicated Reform and Growth Facility, enhancing access to the European Union's single market, and supporting Moldova's socio-economic and fundamental reforms.
The European Commission said the Facility could support new roads, bridges and rail infrastructure; ensure energy Security by completing a new electricity powerline and starting to build two more, linking Moldova to the EU electricity grid; provide energy subsidies; build two new well-equipped hospitals in Cahul and Balti; bringing broadband internet to remote areas of Moldova; and improved access to financing and support for 25 000 businesses.
The European Commission President Ursula von der Leyen said, 'Europe stands firmly by Moldova's side - today and every step of the way on the path to our Union. We can start bringing the Moldovan economy closer to ours already now. Today I'm in Chi?inau to present a support package with the potential of doubling the size 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.'
The European Parliament and the Council will examine the proposal for the Growth Facility for Moldova. Once adopted, Moldova will be invited to submit its Reform Agenda outlining the key socio-economic and fundamental reforms it plans to undertake to accelerate growth and its path to join the European Union.
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