World Bank approves financing of $30 million to Moldova

Chisinau, 06 July /MOLDPRES/ – The World Bank Board of Directors approved on 05 July the granting of a $30 million funding to Moldova for the Operational Development Policy on Economic Governance for Moldova, the government's communication and protocol department has reported.

The money comes to support the efforts of Moldova to reduce the fiscal risks and harmonise the terms for the development of the private sector, in order to ensure the macroeconomic stability and stimulate the economic growth.

"The approval of the funding recognises the recent reforms implemented in Moldova to improve pension system, increase functionality of the National Integrity Authority, strengthen governance in banking sector and improve business environment, to name just a few," said World Bank Moldova, Anna Akhalkatsi.

Since Moldova joined the World Bank in 1992, over $1 billion have been allocated for about 60 operations in Moldova. Currently, the World Bank portfolio includes ten active projects, the total amount of commitments amounting to $357.9 million.

Last week, Moldova received a new installment of nearly $34 million from the International Monetary Fund (IMF). The three-year agreement with Moldova was approved by IMF Board of Executive Directors on 07 November 2016, with Moldova having access to a total of about $178.7 million.