The Polish presidency of the EU Council and negotiators from the European Parliament announced that a preliminary agreement has been reached to provide 2 billion euros to Moldova to support the country's accession to the EU and to achieve energy independence, BTA reported.
By 2027, Moldova is expected to receive up to 385 million euros in grants and 1.5 billion euros in long-term loans with favorable interest rates, the statement said. It added that the funds will be used to undertake the necessary reforms to bring it closer to the EU and ensure independence from Russian energy supplies. The payments will be subject to strict reform conditions, the statement said.
The aim is to help Chisinau mitigate the challenges stemming from Russia's war in Ukraine and Moscow's attempts to destabilize Moldova. The agreement provides for the share of pre-financing to be increased to 18 percent of the total amount. The European Commission will have to coordinate with the EU Council and the EP the decisions to make payments.
The agreement reached is subject to further approval by EU countries and MEPs. At the end of last year, the EC proposed that Moldova be supported to undertake the necessary socio-economic and fundamental reforms, to obtain better access to the EU single market and the means to achieve economic growth.
The statement noted that the amount envisaged under the agreement is the largest granted to Moldova since the country's independence. Moldova became an independent state in 1991, having previously been a republic within the USSR.