EU Gives $2 Billion to Moldova for Reforms and Growth
The European Union has approved a big sum of money, 1.9 billion euros (over $2 billion), to help Moldova with its EU-related reforms and economic growth. This decision was made by the Council of the EU on March 18.
Moldova is getting more support from the EU because of Russia’s war against Ukraine. The EU wants to help Moldova, which borders Ukraine, stay strong and become a member of the EU. Last June, Moldova started talking to the EU about joining.
The head of Poland’s European affairs ministry said: “Today we are helping Moldovans advance key socio-economic reforms, boost their economy and accelerate the country’s accession to the EU.” He also mentioned that this support will help Moldova resist Russia’s actions against Ukraine.
This is the biggest amount of money the EU has given to Moldova. The details of the support package will be finalized by the presidents of the European Parliament and the Council of the EU, and it will come into effect after being published in an official journal.
Moldova has been helping Ukrainian refugees and warning about Russia’s attempts to destabilize the country, particularly in the Transnistria region. This region is facing a big energy crisis since Russia stopped gas supplies at the start of the year. Moldova turned to European gas supplies but still faces challenges due to its reliance on electricity from a gas-powered plant in Transnistria.
Last month, the EU gave 250 million euros ($273 million) to help Moldova become more energy independent and resilient.
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