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While the emerging private sector accounts for approximately 80% of the economic value added, Moldova is still one of the poorest countries in Europe.Of its 4.4 million inhabitants, 700,000 (16 per cent) have already left in search of better living conditions.The origin of the name of the river remains unclear.According to a legend recounted by Moldavian chroniclers Dimitrie Cantemir and Grigore Ureche, Prince Dragoș named the river after hunting an aurochs: following the chase, the prince's exhausted hound Molda drowned in the river.Romania’s accession to the European Union (EU) has made Moldova an EU neighbour.It is therefore integrated in the EU’s Neighbourhood Policy, which aims to promote closer relationships with the new neighbouring states.
Its economy is the poorest in Europe in per capita terms.
The International Monetary Fund (IMF) estimates that remittances from Moldovans living abroad account for some 30 per cent of GNP.
The country’s economic strength is further weakened by the long-standing and unresolved conflict over the breakaway region of Transnistria: this is where a significant part of industrial production is concentrated.
GIZ has been assisting the Republic of Moldova with the difficult process of socio-economic transition since 1994.
We are conducting these activities on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and other federal ministries.