The financial support provided by Sweden to Moldova will increase in 2014-2020. The money will be used to implement the provisions of the Association Agreement with the EU, which Moldova signed on June 27. The announcement was made by Minister of Foreign Affairs and European Integration Natalia Gherman and Swedish Foreign Minister Carl Bildt, who was in Chisinau on a visit, IPN reports.

In 2011-2014, Moldova and Sweden had implemented a broad development cooperation strategy. Sweden offered Moldova annually up to €11 million in support of the reformation process. The Government of Sweden will increase the volume of financial assistance to €14 million a year and this money will be provided within the Regional Cooperation Strategy with the EaP states for 2014-2020.

“In this period, we will annually receive by €14 million. The assistance in seven years will rise to €100 million. The main emphasis is put on supporting Moldova to implement the Association Agreement and the Deep and Comprehensive Free Trade Agreement. We will focus on such areas as energy efficiency, market development, removal of trade barriers, and decentralization,” said Natalia Gherman, adding that Sweden is a valuable partner for Moldova as it initiated the Eastern Partnership and supports Moldova in its efforts to do reforms in different areas.

Carl Bildt said the cooperation between Moldova and Sweden over the last few years was very good and important steps were taken on the road to the EU. “Now that the Free Trade Agreement was signed, we expect that its provisions will take effect as implementation is the most important matter. Many things can be done. The effect of the accord as regards free trade is that you will benefit from the largest integrated market of the world,” he stated.

Carl Biltd noted that now Moldova will indeed become a destination for investments. “The investment aspect will be even more important in time, more important than the access to the market or other provisions of the agreement,” he said.