Moldova to get 1.9 bln euros from EU to speed up reforms

BRUSSELS. March 18 (Interfax) - The Council of the European Union announced its final decision to allot 1.9 billion euros to Moldova to support its reforms and economic growth.

"Today we are helping Moldovans advance key socioeconomic reforms, boost their economy and accelerate the country's accession to the EU," Minister for European Affairs Adam Szlapka of Poland, which currently holds presidency of the Council of the EU, said on Tuesday.

The Council's decision is its final green light to setting up the Reform and Growth Facility for Moldova as a new instrument to support EU-related reforms and economic growth in the country, the Council said in a statement.

The envelope of 1.9 billion euros provided by the Facility is the largest EU financial support package given to Moldova since it gained independence, which complements the EU's other substantial support to the country, it said.

"It will boost Moldova's economy and bring the country closer to EU membership by accelerating reforms," it said.

The regulation on establishing the Reform and Growth Facility for Moldova is to be signed by the presidents of the Council of the EU and the European Parliament, published in the EU Official Journal and enter into force the next day.