Cristina Gherasimov explained that the €1.8 billion aid from the EU is the result of a year of work by officials involved in the negotiation process for Moldova’s accession to the European Union. According to statements of the Deputy Prime Minister for Integration, over €400 million of this aid will be in grants.
Gherasimov clarified that the rest of the amount, which will be in loans, will have its interest covered by economic growth. The funds will be distributed over three years, using a mechanism similar to the Balkan countries.
“The 1.8 billion euros package includes a substantial grant component and a loan component. The interest rate will be favorable, enabling us to repay the loan through economic growth. The European Commission will publish the specific financial conditions,” Gherasimov clarified.
“This aid is the outcome of almost a year of work, starting from when the European Commission proposed in December to the Council to begin accession negotiations, and the Council approved it. Since then, we’ve been working intensively in Brussels and Chisinau, with numerous visits. Now, the process has been completed, and we can finally announce it to the public,” Gherasimov clarified.
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The European Commission President, Ursula von der Leyen, announced the €1.8 billion aid package for Moldova on Thursday, October 10, 2024, during her official visit to Chisinau. She explained that the funds will be used for energy interconnections, building schools and hospitals, strengthening infrastructure, supporting business development, and boosting the national economy.