Brussels [Belgium], May 5 (ANI/Sputnik): The European Commission announced on Thursday a plan to spend 52 million euros (USD 55 million) on Moldova's economic reforms to raise its investment and business profile.

"We remain committed to accelerate the implementation of the Economic and Investment plan to ensure Moldova's long-term recovery, and build up its resilience," Oliver Varhelyi, the EU commissioner for neighborhood and enlargement, said.

Also Read | Pope Uses Wheelchair in Public for First Time Since Knee Pain Flare-up – Latest Tweet by Reuters.

The money will pay for the implementation of Moldova's association and trade integration with the EU. The initiatives aim to improve the eastern European nation's business climate and fund the green transition.

This amount comes on top of tens of millions promised to Moldova as it struggles to process Ukrainian refugees. Moldova will also receive 150 million euros in the coming months under an EU loan scheme. (ANI/Sputnik)

Also Read | Turkey’s Annual Inflation Hits Two-Decade High of Nearly 70% in April 2022.

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)