EU to provide €60 million to Moldova to reduce impact of rising gas prices
The European Union will provide the Republic of Moldova with €60 million to reduce the impact of rising gas prices, President of the European Commission Ursula von der Leyen announced on 15 December after meeting Moldovan President Maia Sandu on the margins of the Eastern Partnership Summit.
“We have had intensive discussions in recent weeks, in particular about the gas supply crisis that Moldova is facing. I have announced an emergency package, to step up our support to Moldova,” said von der Leyen.
The package was signed by European Commissioner Olivér Várhelyi and Moldova’s Minister of Foreign Affairs and European Integration Nicu Popescu.
The EU assistance will be provided through a new budget support programme to help the Republic of Moldova set up a support scheme for its most vulnerable citizens. The funds are expected to be disbursed at the end of this year.
The EU is also preparing to offer the Republic of Moldova a new macro-financial assistance operation, intended to help alleviate the financing needs of the country, caused by the sharp increase in gas prices. This new operation will be jointly implemented with a new International Monetary Fund (IMF) programme.
The EU will also provide the Republic of Moldova with a €15 million grant. This grant will offer a first component to support those most affected by the crisis, and a second one to help build the Moldovan government’s capacity in energy reform.
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