Moldova, EU sign two cooperation and financing agreements

The Memorandum of Understanding on the Single Support Framework for EU support to the Republic of Moldova for the period of 2014-2017 has been signed today by EU Commissioner for European Neighbourhood Policy and Enlargement Negotiations Johannes Hahn and Moldova’s Prime Minister Iurie Leanca, together with a financing agreement to support the implementation of the Deep and Comprehensive Free Trade Area (DCFTA) with Moldova, IPN reports.



In the period covered by the memorandum, Moldova will be able to get up to €410 million from the EU. A sum of €131 million was planned for 2014, €30 of which through the support programme on the implementation of the DCFTA. This support targets competitiveness of small business, development of national legislation in line with EU quality standards and promotion of export and investment opportunities, communication and information campaigns on the Association Agreement with the EU. It will help public institutions, citizens and the business community to seize the benefits and opportunities of the Association Agreements with the EU, including the possibility of increased access to the EU market



In the signing ceremony, Iurie Leanca noted that this is the first visit paid by Johannes Hahn abroad as EU Commissioner for European Neighbourhood Policy and Enlargement Negotiations. One of the main themes discussed with the European official was the justice sector reform and the fight against corruption for which Moldova already received a grant of €60 million.



“For the accord to produce results, the reforms must be continued, as the Premier underscored. Corruption must me stopped and prevented. You can attract investors and foreign companies only if you reduce the level of corruption and have a more transparent and reliable judicial system. We must work together on this and must discuss ways and methods by which we can assist you in ensuring judicial independence,” said Johannes Hahn.



EU funds for DCFTA implementation has been granted to the Republic of Moldova in 2014 through the 'more for more' mechanism of the new European Neighbourhood Instrument: the multi-country umbrella programme. This mechanism rewards progress in democratic reforms with supplementary financial allocations.