The European Union will provide 1.6 billion euros ($1.7 billion) in macro-financial assistance to Moldova

The European Union will provide 1.6 billion Euros ($1.7 billion) in macro-financial assistance to Moldova, European Commission President Ursula von der Leyen said on Wednesday.

"Since October 2021, the EU has provided more than 1 billion euros to Moldova. This includes 300 million euros in macro-financial assistance for this year ... Our initial target was to reach 600 million euros of additional investment.

The good news is that we will be almost tripling that amount. Indeed, with the additional financing that we will mobilize we can now leverage to 1.6 billion euros," von der Leyen said during a joint press conference with Moldovan President Maia Sandu.

The commission president added that the EU will "significantly increase" the number of staff of the union's delegation in Chisinau to ensure Moldova's successful implementation of reforms on its path to the membership in the bloc.