€1.8 billion will be invested in the economy of the Republic of Moldova over the next three years under the Growth Plan for the Republic of Moldova, which was announced on Thursday in Chisinau by the President of the European Commission Ursula von der Leyen. The document focuses on the reforms that the country must implement and on the alignment with European Union standards, IPN reports.
The President of the European Commission referred to economic integration, stressing that Moldova’s economy and the EU single market must get closer together, starting now, before joining the EU. “You have a very ambitious economic plan for the Republic of Moldova and the European Union will support this plan. We believe that we can help you double the size of your economy during 10 years, which will mean more jobs and a better quality of life for Moldovans,” Ursula von der Leyen said at the press briefing, held together with the President of the Republic of Moldova Maia Sandu.
According to the European official, the European support is based on a number of pillars. “First of all, we will invest €1.8 billion in the economy of the Republic of Moldova in the next three years and will focus these investments on areas that will generate economic growth and public services. We already have several projects pending. We will renovate schools, for example. We will build two new hospitals, in Balti and Cahul. We will invest in more connections of your country with neighboring countries, like the road between Chisinau, Iasi and Odessa. We will build bridges over the Prut River. We will also invest in your electricity network,” said Ursula von der Leyen.
In addition, the European Union will support the accession of Moldovan companies to the single market. “For example, you will have access to the Single Payments Area, which will allow for much more secure and much faster money transfers with minimal fees. This is a clear benefit for businesses. It will also provide more opportunities for the small and medium-sized business sector. At the same time, support for the efforts to do reforms, which you intend to implement in order to modernize the economy, improve the business climate,” stated the European Commission’s President.
President Maia Sandu thanked for this consistent aid that is symbolically called the Moldova Growth Plan. “It is not only an investment program, but is also a symbol of the European Union’s confidence in our potential for transformation and development. This growth plan will help us build a strong economy, which will provide highly-paying jobs at home, which will allow us to develop our localities and the country. And I am sure that, together with you and the new Commission you lead, we will have even more achievements, advancing on the path of Moldova’s accession to the European Union,” said the head of state.
The Republic of Moldova is the last country to benefit from such a Plan, after the Balkans and Ukraine. The document had been negotiated for more than half a year.
