Moldova formally applied for EU membership on 3 March. The European Commission concluded that the country has a solid foundation in place to reach the stability of institutions guaranteeing democracy, the rule of law, human rights and respect for and protection of minorities; macroeconomic policies have been reasonably sound and progress has been made in strengthening the financial sector and business environment but key economic reforms remain to be undertaken; the country has established a solid basis to further alignment with the EU acquis. On this basis, the Commission recommended that Moldova be given the perspective to become a member of the European Union. The European Council has decided to grant the status of candidate country  to the Republic of Moldova in June 2022.