The European Union (EU) is increasing financial aid to Moldova to €295 million, almost double the amount envisaged a year ago, the Council of the EU announced on Tuesday.
According to a statement from the Council this Tuesday, a donation of EUR 150 million was planned last year and that amount has now risen to EUR 295 million.
Financial aid to the country is aimed at stabilizing the economic situation and supporting structural reforms.
“Moldova can continue to count on the EU. We will continue to support Moldova, also financially. neighboring Ukraine.”
The Council pointed to the negative effects of the Russian invasion of Ukraine, which started in February 2022, on the neighboring country’s economy and described the increased financial aid as “an appropriate response” in the “current exceptional circumstances”.
Moldova was granted candidate country status to join the European bloc in June 2022, a few months after the start of the Russian invasion of Ukrainian territory.
Source: DN
