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The Parliament of Moldova has ratified an agreement allowing to attract funds from the French Development Agency for the implementation of a number of projects.

The Parliament of Moldova has ratified an agreement allowing to attract funds from the French Development Agency for the implementation of a number of projects.

In particular, the deputies ratified the Moldovan-French intergovernmental agreement on the activities in our country of the French Development Agency, Proparco and Expertise France. The document, which was signed on June 15, 2022 by the Deputy Prime Minister, Minister of Foreign Affairs and European Integration of Moldova Nicu Popescu and French Foreign Minister Catherine Colonna, will ensure our country's access to funds to finance the needs of national development. The purpose of the agreement is to establish the necessary legal framework, as well as to determine the rules regarding the activities in Moldova of the group of the French Development Agency. The agreement contains 9 articles regulating the legal, tax and financial conditions applicable to the status of the representative office and activities of the French Development Agency Group in Moldova, as well as the forms of cooperation between Moldova and the French Development Agency Group, which provides financial support in the form of loans, grants or guarantees, the supply of consulting services, technical assistance, training and research for public or private organizations. The relevance of the agreement is determined by the need to intensify bilateral cooperation between the governments of Moldova and France represented by the French Development Agency group and gain access to external sources of funding, in this case, to attract funds that are provided for this purpose by the French Development Agency group to finance the needs of national development. In particular, in the summer of 2021, the French Development Agency received a mandate to provide development assistance to Moldova. The French Development Agency will support development projects in Moldova in line with its Regional Strategy (combating climate change and supporting just and inclusive transitions) in 3 key areas: reforestation and irrigation; modernization of water supply and sewerage systems; electrical connections and energy efficiency in buildings. In these sectors, the French Development Agency will provide a wide range of financing instruments and technical expertise, including government policy loans to support reform programs; investment loans to finance infrastructure that promotes green and sustainable growth; funding feasibility studies and technical assistance programs; investments in investment funds; private sector finance through its subsidiary Proparco, which is part of the French Development Agency group and is responsible for private sector finance. An important project in terms of connecting the Moldovan railway network to the European network is the rehabilitation and modernization of the Chisinau-Ungheni railway section. The agreement is concluded for an unlimited period and will enter into force on the first day of the second month following the day of receipt of written notification of the completion of internal procedures necessary for its entry into force. // 14.07.2022 — InfoMarket

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