Moldova's Sandu Welcomes $42Mln Grant From Brussels

Moldovan President Maia Sandu on Wednesday welcomed plans by the European Union to give the country $42 million in non-refundable financial aid for post-Covid economic recovery

CHISINAU (UrduPoint News / Sputnik - 15th September, 2021) Moldovan President Maia Sandu on Wednesday welcomed plans by the European Union to give the country $42 million in non-refundable financial aid for post-Covid economic recovery.

On Tuesday, Katarina Mathernova, the deputy director-general of the European Commission, announced during a visit to Chisinau that the EU plans to provide Moldova with over 36 million Euros ($42.4 million) in grants for economic recovery after the COVID-19 pandemic.

"I welcome the decision of the European Union to provide Moldova with non-refundable aid of about 745 million lei.

This sum is part of a 600-million-euro ($706.4-million) economic recovery plan, which the EU will support for the next three years," Sandu wrote on Facebook.

The European Commission came up with the recovery plan for Moldova's economy in June, which entails the disbursement of up to 600 million euros over three years. The funding is expected to cover infrastructural projects and training on how to manage public expenditures, as well as support for small and medium businesses, the education system, and the reform of the judicial system.