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National Fund for Regional and Local Development to be established in Moldova

13:53 | 21.01.2022 Category: Social

Chisinau, January 21 / MOLDPRES /- Parliament approved today by the vote of 58 MPs a draft on setting up National Fund for Regional and Local Development.

Under the draft, the fund is to become the main source of financing for investment projects for local public authorities. Thus, through the Fund will be financed projects in water supply and sewerage, energy efficiency, local development, increasing tourist attractiveness, development of economic infrastructure, urban development.

It will operate on the basis of the National Fund for Regional Development and will take over the regional and local development projects. In addition, this Fund will co-finance projects funded by external partners.

Also, the document proposes the establishment of the National Council for Coordination of Regional and Local Development, its competencies and activity regulations to be approved by the Government. At the same time, the project also provides for the development of an information system, which will ensure the record of the projects financed from the Fund.

The regulation on the management of the funds of the National Fund will be approved in February, and the selection procedure for the projects will be initiated in March.

In financial terms, the funds of the National Fund for Regional and Local Development are estimated to be about 800 million lei for the current year, of which about 500 million will be allocated to local development projects.

Photo: Parliament

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