The European Commission will provide over € 12 million to the Republic of Moldova to support economic development, improve business environment conditions, and strengthen capacity in economic governance.

The Government has approved the initiation of negotiations on the Financial Agreement between Moldovan Government and the European Commission on strengthening the growth potential of the Republic of Moldova through a transparent, efficient and competitive economic environment.

The agreement provides for € 12 million through the European Neighborhood Instrument, and another € 250,000 is provided under the EU's Annual Action Program 2017. Money will be used for measures aimed at fairly applying trade law, efficient management of state assets and public investment, strengthening investor protection, and promoting reforms in financial sector supervision.

Also today, the Cabinet of Ministers approved the initiation of negotiations and the signing of an agreement between the Republic of Moldova and the European Commission, which stipulates the allocation of 5 million euros for the accountability of Moldovan citizens. The areas that will benefit from support are: civil society, good governance, water and sanitation, waste management and energy efficiency.