EC welcomes political agreement on 1.9B euro Reform and Growth Facility for Moldova

The European Commission (EC) said on February 20 that it welcomes the political agreement reached the day before between the European Parliament and the Council of the European Union on the regulation to establish a Reform and Growth Facility for Moldova, a key pillar of the Growth Plan for Moldova proposed by the Commission in October 2024.

The plan is the largest EU financial support package since Moldova’s independence, the EC said.

“It will boost Moldova’s economy, provide significant financial assistance and bring the country closer to EU membership by accelerating reforms,” it said.

European Commissioner for Enlargement Marta Kos said: “The EU stands with Moldova and its people.

“We want to bring the country closer to our Union as fast as possible. The 1.9 billion euro Facility is a key step in that direction. It will drive economic growth, strengthen reforms and anchor Moldova in the European Union,” Kos said.

The EC said that the Reform and Growth Facility for Moldova will provide 1.9 billion euro in financial support based on a Reform Agenda from Moldova which outlines key socio-economic and fundamental reforms it intends to undertake to accelerate growth and convergence with the EU, as well as priority investment needs.

It will cover all sectors that are vital to promote Moldova’s economic growth and integrate it into the EU single market.

Funds will be released twice a year, based on requests by the government of Moldova and following verification by the Commission that all relevant conditions laid out in the Reform Agenda have been met, the EC said.

(Photo: EC Audiovisual Service)

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