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The World Bank Group will provide $159.24 million to Moldova to respond to emergencies, strengthen resilience and enhance competitiveness.

The World Bank Group will provide $159.24 million to Moldova to respond to emergencies, strengthen resilience and enhance competitiveness.

The funds will be allocated under the financing agreement for the implementation of the program "Emergency Response, Resilience and Competitiveness Development Policy Operation (DPO)" that Moldova signed with the International Development Association and the International Bank for Reconstruction and Development on July 4. The government on Wednesday approved a draft law on ratification of the agreement and intends to take all measures for its implementation. The purpose of this funding program is to support strategies set by the government to mitigate the negative effects of the crisis caused by the war in Ukraine, and to ensure Moldova's sustainability and competitiveness. The program will be implemented in the form of budget support of $159.24 million (a loan of 142.1 million euros and a grant of $9.24 million). Particularly, Moldova will get 142.1 million euros in a loan, of which 101.3 million euros will be provided by the International Development Association and 40.8 million euros by the International Bank for Reconstruction and Development and $9.24 million in a grant from the IBRD. The program includes funding for 8 sub-programs, including: allowing Ukrainian citizens to enter Moldova with a national ID card; educating children of Ukrainian refugees in Moldovan educational institutions; consolidating basic social protection programs by improving distribution of social benefits for socially vulnerable families (such as children with severe disabilities); increasing renewable energy production capacity; increasing financial sustainability of households. Financial aid will be available until the end of May 2023. // 07.07.2022 - InfoMarket

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