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EC to mobilize EUR 600 mln COVID recovery support to Moldova

EU

Photo by mnimage / Shutterstock.com

The European Commission said that it will mobilize up to EUR 600 million in macro-financial assistance to Moldova over the next three years to support post-coronavirus economic recovery.

The financial support will be provided in the form of grants and investments, supported by blending and financial guarantees, the Commission said in a press release.

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. The Commission noted that the plan is subject to strict conditionality.

Investments will be made based on a "more-for-more" approach, with progress on structural reforms, in the field of justice and fight against corruption notably, as a prerequisite for financial assistance. 

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