The European Union (EU) will increase financial assistance to Moldova to 295 million euros, almost double the amount envisaged a year ago, the Council of the EU announced on Tuesday.
According to a statement released on Tuesday by the Council, a donation of 150 million euros was planned last year, and this amount has now increased to 295 million euros.
Financial assistance to the country is aimed at stabilizing the economic situation and supporting structural reforms.
“Moldova can continue to rely on the EU. We will continue to support Moldova, including financially, neighboring Ukraine.
The Council highlighted the negative impact of the Russian invasion of Ukraine, launched in February 2022, on the economy of the neighboring country and called the increase in financial assistance “an appropriate response” in the “current exceptional circumstances”.
Moldova received the status of a candidate for joining the European bloc in June 2022, a few months after the start of the Russian invasion of the territory of Ukraine.