Press Release: European Commission announces substantial increase in financial assistance to the Republic of Moldova

At the donor meeting on 12 December 2006 organised jointly by the European Commission and the World Bank, the European Commission will be announcing that it is to more than double its financial assistance to the Republic of Moldova over the next 4 years. Under the new European Neighbourhood and Partnership Instrument (ENPI) €209 million will be made available over the period 2007-2010 to support the reform process and the implementation of the EU-Moldova European Neighbourhood Policy Action Plan. In addition, the Commission has made a proposal to the Council to grant macro-financial assistance of €45 million for 2007-2008 to address Moldova’s current balance of payment problems. This would bring the financial aid to a total of €254 million over the next 4 years.