September 27 (SeeNews) - The European Commission (EC) will provide Moldova with a grant of 105 million euro ($110.9 million) to address the socio-economic challenges stemming from rising energy prices, the Moldovan Ministry of Finance said.
"This financial support will help address the social and economic challenges posed by higher energy costs, enhance the government's ability to assist vulnerable groups, and contribute to ensuring energy security in Moldova," the ministry said on Tuesday.
This grant represents an additional funding allocation that will increase the budget of EC's support programme to 240 million euro. The disbursal of these funds is set to occur in two additional tranches, with completion anticipated by the end of 2023.
($=0.946235 euro)