Brussels pledges €1.8 billion to Moldova before crunch EU referendum

The European Commission pledged €1.8 billion ($1.9 billion) in economic aid for Moldova on Thursday ahead of a crunch referendum vote on EU membership.

"Europe stands firmly by Moldova’s side," European Commission President Ursula von der Leyen said on a visit to Chișinău to announce the package.

Moldova heads to the polls on October 20 for a referendum on joining the European Union. The vote in one of the poorest countries in Europe is being closely-watched amid charges of Russian election interference.

A presidential election in which pro-Western President Maia Sandu is seeking a second term is also taking place on the same day. The country is divided between pro-EU and pro-Russian political forces.

Supporters of the referendum see it as a step that would cement the country's path towards the EU. Moldova's government hopes to join the bloc by 2030, although many view that timeline as very ambitious.

Sandwiched between Ukraine and Romania, the country's economy has been battered by the negative consequences of the all-out Russian invasion of Ukraine in 2022.

Like Ukraine, Moldova has been a candidate for EU accession since 2022.

Von der Leyen said the economic support package has the potential to double the size of Moldova's economy in a decade and bring the country closer to the EU.

The package contains financial support for infrastructure projects in Moldova like bridges, railways, and a road link from Chișinău to the Ukrainian harbour city of Odessa.

The economic support also extends to the EU granting Moldova greater access to the bloc's single market.