site.btaEU Approves EUR 1.5 Billion Loan for Moldova

The EU Council announced on Tuesday the approval of a EUR 1.5 billion low-interest loan with a long repayment period for Moldova. The statement noted that this is the largest financial support granted to the country since its independence in 1992.

The funds will be allocated for reforms and economic growth linked to Moldova’s path towards EU membership. The support also aims to help mitigate the consequences of Russia’s military attack on Ukraine and Moscow’s attempts to destabilize Moldova.

By 2027, the EU will provide an additional EUR 385 million in grants to Chisinau, part of which will be used to boost energy independence, including decreasing dependence on Russian energy imports.

Moldova applied for EU accession talks in March 2022 and was granted candidate status three months later.