European Parliament Approves Historic €1.9 Billion Support Package for Moldova
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The European Parliament has endorsed a landmark €1.9 billion support package under the Reform and Growth Facility for Moldova. The financial aid, which includes €420 million in grants, is designed to bolster Moldova’s economy and facilitate its integration into the European Union.
In a significant amendment, Members of the European Parliament (MEPs) voted to increase the grant component by €100 million. Additionally, they supported an increase in pre-financing from 7% to 20% of the total package, ensuring Moldova will receive over €300 million promptly after the package takes effect.
With the European Parliament’s approval secured, the provisional agreement now awaits endorsement from the Council. The support package will officially enter into force once both institutions approve it and after its publication in the EU’s official journal.
The funds are earmarked to support 25,000 businesses, finance major infrastructure projects, and enhance Moldova’s energy interconnection with the EU. Furthermore, Moldova will gain access to the European single market, including key sectors such as transport and euro payments. However, before disbursement, the Moldovan government must submit a detailed reform plan.
The support package was passed with strong support from MEPs, receiving 499 votes in favor, 117 against, and 44 abstentions. This initiative represents the most substantial EU financial assistance package for Moldova since the country gained independence.
“This is a pivotal moment for Moldova,” President Maia Sandu stated, as quoted by Deschide.md. “We thank the European Parliament for its support of the Growth Plan – a strong vote of confidence in our future. The €1.9 billion investment will develop our economy, create new opportunities, and improve people’s lives as we advance toward the European Union.”
The package is expected to stimulate economic growth, provide critical financial assistance, and accelerate the reforms necessary for Moldova’s EU accession aspirations.
