{"id":449454,"date":"2021-06-02T15:22:05","date_gmt":"2021-06-02T15:22:05","guid":{"rendered":"https:\/\/www.moldova.org\/en\/?p=449454"},"modified":"2021-06-02T15:23:20","modified_gmt":"2021-06-02T15:23:20","slug":"an-economic-recovery-plan-for-moldova-600-million-euros-for-a-sustainable-recovery-from-the-covid-19-crisis","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/an-economic-recovery-plan-for-moldova-600-million-euros-for-a-sustainable-recovery-from-the-covid-19-crisis\/","title":{"rendered":"An Economic Recovery Plan for Moldova: 600 million euros for a sustainable recovery from the COVID-19 crisis"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The European Commission announced<\/a>, on June 2, an Economic Recovery Plan<\/strong> worth up to 600 million euros<\/strong> as macro-financial assistance, grants and investments, supported by blending and financial guarantees, according to the Press Center of the European institution. The funding will be mobilised over the next 3 years in order to support a sustainable and inclusive recovery from the COVID-19 crisis in the country.<\/span><\/p>\n

The plan will be implemented in close cooperation with EU Member States and international financial institutions as part of the “Team Europe”<\/em> approach, as well as with the help of private investors. It will be built on five pillars: public finance management and economic governance; competitive economy, trade and SMEs; infrastructure; education and employability; and the rule of law and justice reform.<\/strong><\/p>\n

At the same time, the Economic Recovery Plan is subject to strict conditionality, as investments will be made based on a ‘more-for-more’ approach, the progress on structural reforms, in the field of justice and fight against corruption being assessed, as a prerequisite for financial assistance.<\/p>\n

“The EU’s Economic Recovery Plan constitutes an unprecedented effort to help the country on its path to recovery and drive an ambitious reform agenda forward, in the interest of its citizens. Ultimately, this plan illustrates the strength of our association and solidarity to fight together the COVID-19 pandemic,” <\/em>noted<\/a> European Commission President, Ursula<\/strong> von der Leyen.<\/strong><\/p>\n

“With this ambitious Economic Recovery Plan we want to stimulate long-term socio-economic recovery and unleash the untapped economic potential of Moldova for the benefit of its citizens. We will invest in the economy, in connectivity, in education and employability. The Plan will support indispensable structural reforms, including in the key areas of justice and the fight against corruption,” <\/em>added<\/a> Commissioner for Neighbourhood and Enlargement, Oliv\u00e9r V\u00e1rhelyi.<\/strong><\/p>\n

Chairman of the European Parliament Delegation to the EU-Moldova Parliamentary Association Committee, Siegfried Muresan<\/strong>, called<\/a> the recovery plan “the best news that the citizens of the Republic of Moldova have received from the European Union since visa<\/em> liberalisation.”<\/em><\/p>\n

“The Republic of Moldova benefits from an economic recovery plan in the same way as all the member states of the European Union. It is the only such economic package granted by the European Union to a country in the Eastern Neighbourhood.”<\/p><\/blockquote>\n

“I appreciate the efforts of the European Commission, in particular those of President Ursula von der Leyen and Commissioner for Neighbourhood and Enlargement Oliv\u00e9r V\u00e1rhelyi and his team, to complete this plan quickly,”<\/em> said<\/a> President Maia Sandu<\/strong>. The official also mentioned that the Economic Recovery Plan for the Republic of Moldova was announced following discussions during her visit to Brussels in January.<\/span><\/p>\n

More than 127 million euros in the form of bilateral grant support has been mobilised in 2020 to help Moldova cope with the initial shock of the pandemic crisis.<\/p>\n

Photo: ec.europa.eu<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>The European Commission announced, on June 2, an Economic Recovery Plan worth up to 600 million euros as macro-financial assistance, grants and investments, supported by blending and financial guarantees, according to the Press Center of the European institution. The funding will be mobilised over the next 3 years in order to support a sustainable and […]<\/p>\n","protected":false},"author":31,"featured_media":449455,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,3,4,8],"tags":[449,381,514,168,816,35,27,1056],"class_list":["post-449454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-politics","category-society","category-world-news","tag-assistance","tag-crisis","tag-european-commission","tag-european-union","tag-funding","tag-important","tag-moldova","tag-recovery"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The European Commission announced<\/a>, on June 2, an Economic Recovery Plan<\/strong> worth up to 600 million euros<\/strong> as macro-financial assistance, grants and investments, supported by blending and financial guarantees, according to the Press Center of the European institution. The funding will be mobilised over the next 3 years in order to support a sustainable and inclusive recovery from the COVID-19 crisis in the country.<\/span><\/p>\n

The plan will be implemented in close cooperation with EU Member States and international financial institutions as part of the “Team Europe”<\/em> approach, as well as with the help of private investors. It will be built on five pillars: public finance management and economic governance; competitive economy, trade and SMEs; infrastructure; education and employability; and the rule of law and justice reform.<\/strong><\/p>\n

At the same time, the Economic Recovery Plan is subject to strict conditionality, as investments will be made based on a ‘more-for-more’ approach, the progress on structural reforms, in the field of justice and fight against corruption being assessed, as a prerequisite for financial assistance.<\/p>\n

“The EU’s Economic Recovery Plan constitutes an unprecedented effort to help the country on its path to recovery and drive an ambitious reform agenda forward, in the interest of its citizens. Ultimately, this plan illustrates the strength of our association and solidarity to fight together the COVID-19 pandemic,” <\/em>noted<\/a> European Commission President, Ursula<\/strong> von der Leyen.<\/strong><\/p>\n

“With this ambitious Economic Recovery Plan we want to stimulate long-term socio-economic recovery and unleash the untapped economic potential of Moldova for the benefit of its citizens. We will invest in the economy, in connectivity, in education and employability. The Plan will support indispensable structural reforms, including in the key areas of justice and the fight against corruption,” <\/em>added<\/a> Commissioner for Neighbourhood and Enlargement, Oliv\u00e9r V\u00e1rhelyi.<\/strong><\/p>\n

Chairman of the European Parliament Delegation to the EU-Moldova Parliamentary Association Committee, Siegfried Muresan<\/strong>, called<\/a> the recovery plan “the best news that the citizens of the Republic of Moldova have received from the European Union since visa<\/em> liberalisation.”<\/em><\/p>\n

“The Republic of Moldova benefits from an economic recovery plan in the same way as all the member states of the European Union. It is the only such economic package granted by the European Union to a country in the Eastern Neighbourhood.”<\/p><\/blockquote>\n

“I appreciate the efforts of the European Commission, in particular those of President Ursula von der Leyen and Commissioner for Neighbourhood and Enlargement Oliv\u00e9r V\u00e1rhelyi and his team, to complete this plan quickly,”<\/em> said<\/a> President Maia Sandu<\/strong>. The official also mentioned that the Economic Recovery Plan for the Republic of Moldova was announced following discussions during her visit to Brussels in January.<\/span><\/p>\n

More than 127 million euros in the form of bilateral grant support has been mobilised in 2020 to help Moldova cope with the initial shock of the pandemic crisis.<\/p>\n

Photo: ec.europa.eu<\/p>\n

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