CHISINAU (Moldova), August 18 (SeeNews) - The US Agency for International Development (USAID) is granting $63 million (61.9 million euro) to Moldova to support the country on its path to EU accession and help it cope with multiple crises after Russia's invasion of Ukraine, the Moldovan finance ministry said on Thursday.
The funds are supplementary to a grant offered by the US under the Assistance Agreements signed in 2016, which will reach a total value of $153.2 million, the finance ministry said in a press release.
Most of the funds, $46.3 million, are intended for the sustainable economic growth of Moldova and will help the country's economy to become more resilient. Moldova will use the financing to accelerate energy security, expand reforms favorable to the business and trade environment and reduce areas vulnerable to corruption as well as to improve the resilience and competitiveness of the agricultural sector.
At the same time, $16.7 million will go to programmes aimed at strengthening participatory democracy and governance by supporting independent media institutions, expanding support for credible electoral processes and fair political competition, amplifying current reforms in the justice system and supporting local administrations in managing the flow of refugees.
USAID is an independent agency of the United States federal government that is primarily responsible for administering civilian foreign aid and development assistance.
($= 0.983 euro)