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The IMF will provide Moldova with an external state loan of over $170 million through the Resilience and Sustainability Facility.

The IMF will provide Moldova with an external state loan of over $170 million through the Resilience and Sustainability Facility.

This is stipulated by a draft law on the attraction of an external state loan from the International Monetary Fund through the Resilience and Sustainability Facility (RSF), passed by the parliament in the first reading. In particular, the matter concerns 129.375 million Special Drawing Rights (SDRs) from the IMF, which is equivalent to more than $170 million. As the Finance Ministry said earlier, on 6 December 2023, the IMF Executive Board approved for Moldova a new RSF program - the Resilience and Sustainability Facility - worth 129.375 million SDRs ($170.8 million at that time). The program will support Moldova's efforts to build resilience to climate shocks, help implement energy sector reforms, and mobilize sustainable finance. The loan will be used to finance state budget needs. To receive the matching financial assistance, Moldova will implement 12 reform measures aimed at reducing the impact of climate change. The duration of the RSF program is 22 months. The loan will be repaid in 20 equal installments after 10.5 years from the date of each debit from the loan account. The repayment period of the loan is 20 years. The interest applicable on the loan under consideration will be equal to the base interest rate in SDR (Special Drawing Rights) plus a margin of 0.75p.p. The service fee will be 0.25% of the amount allocated. The new RSF program is planned to support Moldova's investments in building resilience to climate shocks, stimulating adaptation and mitigation finance, supporting energy sector reforms, and increasing the readiness of the domestic financial sector to mobilize sustainable finance. // 06.06.2024 - InfoMarket

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