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Posted by: Carolina Străjescu
News / Economic
17 Aug. 2022 / 21:45
USAID grants $63 million to the Republic of Moldova to deal with multiple crises
USAID Moldova Mission Chief Scott Hocklander and Finance Minister Dumitru Budianschi signed the 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. These funds are provided by USAID to support the Republic of Moldova in its European journey, now as a candidate state for accession, and in response to the multiple crises facing the Republic of Moldova after Russia's unjustified and brutal invasion of Ukraine.
Most of the funds, $46.3 million, 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 energy security, implement new technologies and innovations in the economy, expand reforms favourable to the business and trade environment and reduce areas vulnerable to corruption, improve the resilience and competitiveness of the agricultural sector.
At the same time, $16.7 million will be allocated to programs to strengthen participatory democracy and governance: supporting independent media institutions, expanding support for credible electoral processes and fair political competition, amplifying current reforms in the justice system, supporting local administrations in managing the flow of refugees.
"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 that 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.
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 $153.2 million.
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 amounted to over $600 million.
At the same time, $16.7 million will be allocated to programs to strengthen participatory democracy and governance: supporting independent media institutions, expanding support for credible electoral processes and fair political competition, amplifying current reforms in the justice system, supporting local administrations in managing the flow of refugees.
"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 that 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.
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 $153.2 million.
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 amounted to over $600 million.
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