The European Commission will allocate Moldova of 12 million euros for the development of the economy

© Sputnik / Miroslav to Waterpalace in fotobanka Moldova in Chisinau. Archival photoThe European Commission will allocate Moldova of 12 million euros for the development of the economy© Sputnik / Miroslav to Retirerait the image Bank

The European Commission will provide Moldova 12 million euros to support economic development and to improving business environment, said on Wednesday the press service of the Moldovan government.

«The European Commission will provide more than 12 million euros to Moldova to support economic development, improve the conditions of the business environment and strengthen capacity for economic management. The Executive body today approved the start of negotiations on financing agreement between the government of the Republic of Moldova and the European Commission», — is told in the message.

The funds will be spent to Finance measures concerning the fair use of trade legislation, efficient management of public assets and public investments, strengthening the rights of investors and the promotion of reforms in the area of supervision of financial sector.

In addition, the obtained means will go on rendering assistance to development of economy and market opportunities to areas of the country and the Autonomous region of Gagauzia.

Gagauzia — Autonomous territorial entity in the South of Moldova, which was created from the settlements where more than 50% of the population was Gagauz, or where the majority of residents in the referenda voluntarily agreed to enter into autonomy.

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