EU commits nearly $2B to Moldova’s economic growth, EU accession path

ANKARA

The EU on Thursday announced an investment package of €1.8 billion (nearly $2 billion) to boost Moldova’s economy and support its EU membership path.

The package, to be delivered over three years, aims to strengthen Moldova’s infrastructure, energy sector, and public services, laying the groundwork for future economic growth.

“Moldova’s place is in our EU,” European Commission President Ursula von der Leyen told reporters during a visit to the former Soviet nation's capital Chisinau, commending its progress in aligning with EU values since being granted candidate status in June 2022.

The plan includes key projects, such as building hospitals in the cities of Balti and Cahul, as well as school renovations and upgrades to roads and energy infrastructure, including improved connections between Chisinau, Iasi, and Odesa.

Broadband internet will also be expanded across Moldova, enhancing digital infrastructure and access to EU markets.

Von der Leyen emphasized that Moldova’s integration into the EU single payment area will help its small- and medium-sized enterprises by facilitating faster and secure financial transfers.

Looking ahead, she urged Moldovans to participate in upcoming Oct. 20 referendum on future EU membership, emphasizing their role in shaping the country's future.

“Moldova’s future lies in your hands,” she said, reaffirming the EU’s support for Moldova’s democratic and economic reforms.

Moldova’s progress, challenges

Moldovan President Maia Sandu thanked the EU for its ongoing support, particularly during the recent energy crisis exacerbated by the war in Ukraine.

She noted Moldova’s progress in meeting EU recommendations, with 65% of the country’s products now reaching European markets.

However, Sandu acknowledged the challenges Moldova faces due to regional instability and the ongoing war in the neighboring country, but praised the Brussels' consistent support in strengthening Chisinau's resilience.