Financing agreement of Moldova, International Development Association for economic governance published in Official Journal

Chisinau, 17 July /MOLDPRES/ – The promulgation decree and law on ratification of Financing Agreement between Moldova and International Development Association (IDA): "The economic governance programme for Moldova (DPO – 3)" was published in Official Journal.

The agreement provides for a budget support to Moldova, a loan of €24.9 million from the World Bank (WB). The financial terms provide for a fixed interest rate of 1.42 per cent yearly, a five – year grace period, repayment period of 25 years, maturity of loan – 30 years and deadline for disbursement – 31 July 2019.

The Economic Governance Programme is a key component of the Strategic Partnership for 2018 – 2021. The main Programme objective is to assist Moldova in reducing tax risks and promote a loyal environment in economy for private sector development.

According to authorities, financing approval recognises recent reforms implemented in Moldova to improve the pension system, increase functionality of the National Integrity Authority (ANI), strengthen governance in banking sector and improve business environment. The Initiative for Initiating Negotiations on the Agreement came from WB as to facilitate procedures for implementation of the Strategic Partnership in Moldova for 2018 – 2021.

(Reporter A. Zara, editor M. Jantovan)