€94 Million EU Boost for Moldovan Businesses & Jobs
The European Investment Bank (EIB) announced a €94 million investment package to bolster local entrepreneurship, create new jobs, and enhance the sustainability of private businesses in Moldova.
This initiative aligns with the European Union's commitment to supporting the country's economic development.
The announcement came during a conference titled "European Union - Republic of Moldova and Private Sector Investment." The event served as a platform to showcase the opportunities available through EU financial instruments designed to stimulate private sector investment. European and Moldovan entrepreneurs gathered in Chisinau to explore potential partnerships in the renewable energy, agri-food, and digital technology sectors.
Moldova's Minister of Economy and Digitalization, Dumitru Alaiba, emphasised the government's dedication to fostering a thriving private sector. "The private sector is the government's main partner in Moldova," declared Alaiba. "Together, with the support of our partners and friends, we are committed to unlocking Moldova's full potential. We've said this many times before. I am confident that we can achieve more. We need to reduce barriers and ensure companies experience the benefits of the free trade area."
The conference also highlighted Moldova's growing economic ties with the European Union. Natalia Bejan, Director of the Investment Agency of the Republic of Moldova, pointed to the significant increase in trade between Moldova and EU member states. "In 2022, 59% of Moldova's goods exports went to the EU, and this figure climbed to 65% in 2023," Bejan stated. "This demonstrates a strong network of partnerships, not just dependence on a single nation."
Adrienn Kiraly, Director of the Eastern Neighborhood and Institutional Strengthening Department of the European Commission, acknowledged Moldova's significant economic potential. "This €94 million financial package is part of an economic development plan that has been a key driver of our cooperation in recent years," Kiraly explained. "We have already mobilised €1.25 billion in public and private investments for Moldova. These funds have supported vital areas like road infrastructure, the energy sector, and small and medium-sized enterprises."
The signing of the agreements between the EIB and a Moldovan bank signifies a new chapter in the country's economic development journey. This investment is expected to create new jobs, empower local businesses, and pave the way for a more sustainable and prosperous future for Moldova.
Translation by Iurie Tataru
