EU pledges extra USD 55 mln in funding for Moldova's economic reforms

The European Commission announced on Thursday a plan to spend 52 million euros (USD 55 million) on Moldova's economic reforms to raise its investment and business profile.

"We remain committed to accelerate the implementation of the Economic and Investment plan to ensure Moldova's long-term recovery, and build up its resilience," Oliver Varhelyi, the EU commissioner for neighborhood and enlargement, said.

The money will pay for the implementation of Moldova's association and trade integration with the EU. The initiatives aim to improve the eastern European nation's business climate and fund the green transition.

This amount comes on top of tens of millions promised to Moldova as it struggles to process Ukrainian refugees. Moldova will also receive 150 million euros in the coming months under an EU loan scheme. (ANI/Sputnik)

( With inputs from ANI )