The WB Group will allocate Moldova $105.7 million of budgetary support for the development of economic opportunities and climate transition
The parliamentary press service reported that the allocation of this money to finance the needs of the state budget will be provided for by the relevant agreements with the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD), member of the World Bank Group, the launch of negotiations on which and the subsequent signing was approved by the parliamentary commission for foreign policy and European integration. It is planned that Moldova will sign financing agreements with IDA and IBRD for the implementation of the program “Operation Development Policies to Support Economic Opportunities and Climate Transition”, which envisages the allocation of $105.7 million to Moldova. It is planned that Moldova will receive $50 million of the total $90 million WB credit from the International Development Association, and $40 million from the International Bank for Reconstruction and Development. At the same time, the $40-million credit (or the equivalent in euros) will be offered to Moldova by the IBRD for 30 years, including a grace period of 5 years. The interest rate varies, the commitment fee will amount to 0.25%, while the one-time fee will be 0.25%. At the same time, the IDA loan of $50 million (or euro equivalent) will be disbursed on standard IDA terms. At the same time, IBRD and IDA will also provide Moldova with a $7.7 million grant for the implementation of the M-GROW program. Financial resources are provided after meeting 11 conditions related to enhancing private sector competitiveness by facilitating market entry and exit, improving employment and access to quality education, and improving energy security and promoting climate-smart agriculture. Once signed, the agreements must be ratified by Parliament. // 02.04.2025 - InfoMarket.
