The European Union has increased the budget support offered to the Republic of Moldova. Commissioner for Neighborhood and Enlargement, OlivérVárhelyi, announced that the €53 million budget support published in April this year will be increased to €75 million. Together with the €60 million budget support adopted end of last year, this brings the European Union’s total budget support package for Moldova to €135 million since December 2021. This budget support package addresses rising energy costs as well as the severe impact of Russia’s war against Ukraine, IPN reports.
This additional support will help the Republic of Moldova cope with the multiple repercussions of the Russian military aggression against Ukraine. In particular, it will help the most vulnerable segments of the population in Moldova to deal with rising energy costs and to support the long-term socio-economic recovery, energy security and energy transition of the Republic of Moldova. This support is expected to be delivered quickly by the end of the month.
This €135 million budget support package comes in addition to the €150 million Macro-Financial Assistance Program, and the emergency assistance already provided by the EU to the Republic of Moldova.
”The EU stands by the Republic of Moldova in these difficult times. We continue to provide support to help the country deal with the severe impact of Russia’s war against Ukraine. European solidarity with the Republic of Moldova is unwavering,” said Commissioner Olivér Várhelyi.
In addition to the crisis management, the EU continues to support Moldova’s long-term resilience, in particular through the Eastern Partnership Economic and Investment Plan, aiming to mobilize around €3.4 billion in public and private investments for five flagships: SME support, trade facilitation, energy efficiency, connectivity and human capital development.
