US government to grant 63 million dollars to Moldova
19:07 | 17.08.2022 Category: Economic
Chisinau, Aug. 17 /MOLDPRES/- The Head of Mission of the US Agency for International Development (USAID) Moldova, Scott Hocklander, and Minister of Finance Dumitru Budianschi signed Amendments to the 2016 Assistance Agreements, supplementing the USAID budget for development programs in the Republic of Moldova with an additional amount of 63 million dollars.
The funds are offered by USAID to support the Republic of Moldova in its European journey, as a candidate state for accession, and as a response to the multiple crises our country is facing after the Russian invasion of Ukraine, according to a press release from the US Agency. Most of the funds, 46.3 million dollars, will contribute to the sustainable economic growth of the Republic of Moldova and will help the Moldovan economy to become more resilient.
"The money will be used to accelerate Moldova's long-term energy security through integration with the European energy system, increasing the volume of renewable energy and attracting investments in domestic energy production and energy efficiency; the implementation of new technologies and innovations that will boost Moldova's digital economy and ensure sustainable growth; expanding reforms favorable to the business and trade environment and reducing vulnerable areas to corruption; improving the resilience and competitiveness of the agricultural sector of the Republic of Moldova in key areas, such as winemaking, the production of fruit, table grapes, apple trees and honey in order to contribute to the sustainable and inclusive recovery following the regional crisis", the cited source indicates.
At the same time, $16.7 million will go to programs aimed at strengthening participatory democracy and governance. Assistance will focus on: providing additional support to independent media institutions and creating a media sector that is more resilient to political and financial pressures and less susceptible to disinformation; expanding support for credible electoral processes and fair political competition; providing a rapid response to the immediate needs of local governments facing refugee flows, including in rural areas, to be more efficient, transparent and accountable, including community development, infrastructure projects and business support; the amplification of the current reforms in the justice system.
"Russia's brutal and unjustified invasion of Ukraine has accentuated the challenges facing the Republic of Moldova after two years of the pandemic. Through these additional funds, we want to demonstrate our commitment to the Moldovan people and strengthen our cooperation that is based on 30 years of productive and successful partnership. We hope these additional funds will contribute to Moldova's resilience and help this small country with a big heart overcome challenges as it moves firmly towards the EU," said Scott Hocklander, USAID Moldova Head of Mission.
With the introduction of these amendments, the total amount of the grant offered by the US under the Assistance Agreements signed in 2016 will reach the amount of 153.2 million dollars. USAID has provided assistance for development projects in the Republic of Moldova since 1992. In the last 30 years, USAID's total investments in the development of the economy and democracy of the Republic of Moldova amount to more than 600 million dollars.