The grant represents the first installment of a three-year Economic Recovery Plan worth EUR 600 million, which was approved in June, the government's office said in a press release.

Moldova will use this first tranche to spur economic recovery and law enforcement reform. "Small and medium-sized enterprises (SMEs) have been hit hard by the crisis. Promoting and diversifying access to finance and reducing guarantee requirements will be essential in supporting economic operators. We are grateful to the EU partners who will launch two programs to support 50,000 independent Moldovan SMEs to adapt to these new conditions", Prime Minister Natalia Gavrilita was quoted as saying.

The Economic Recovery Plan for Moldova builds on five pillars: public finance management and economic governance; competitive economy, trade and SMEs; infrastructure; education and employability; the rule of law and justice reform.