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The World Bank will provide Moldova with a loan of 92.1 million euros in budget support.

The World Bank will provide Moldova with a loan of 92.1 million euros in budget support.

In particular, this is envisaged by a financing agreement ratified by the Moldovan Parliament on Friday between Moldova and the International Bank for Reconstruction and Development (part of the World Bank Group) to implement the "Moldova, Emergency Response, Resilience and Competitiveness. DPO- 2". These funds are intended for the stabilization and growth of Moldovan economy, as well as for the implementation of a number of social and economic programs by the current government. As InfoMarket news agency earlier reported, in total Moldova will get $211 million from the World Bank within the framework of the new program of budget support, including 92.1 million euros loan (equivalent of $100 million) and a grant of $111 million. The loan term is 21 years, including a grace period of 3 years, the interest rate is variable, the commitment fee is 0.25% and is calculated on the unpaid amount, the one-time fee will be 0.25% of the loan amount. Loan servicing costs are paid from the state budget. In order to get the money, Moldova has to execute 8 sub-actions related to implementation of the Action Plan for ensuring better legal status for Ukrainian refugees and their better integration into the Moldovan society, implementation of the Action Plan for strengthening of civil protection responses and management in emergency situations, including the influx of refugees, taking measures to fight against poverty, energy efficiency, implementation of energy efficiency policies for public and residential buildings. Also, the Cabinet decided to amend the legal framework on deposit guarantees, to increase the coverage of bank deposits and consolidate the Deposit Guarantee Fund's capacity, in line with EU requirements for better protection of public deposits, to take measures to improve the legislation on corporate management of public companies, by granting the Public Property Agency the power to approve the code of corporate management of public companies, to adopt the framework for appointing independent board members and evaluation of members of public companies. The above-mentioned financing agreement will take effect after the Moldovan Parliament ratifies it and after all the conditions stipulated in the agreement are met. The financial assistance will be available until May 24, 2024. // 07.07.2023 – InfoMarket

News on the subject

The Council of Europe Development Bank (CEB) will provide Moldova with a loan of 86 million euros to build a regional hospital in Balti.
The Council of Europe Development Bank (CEB) will provide Moldova with a loan of 86 million euros to build a regional hospital in Balti.
Romania will allocate Moldova the first tranche of the previously approved grant aid totaling 100 million euros - Marcel Ciolacu.
Romania will allocate Moldova the first tranche of the previously approved grant aid totaling 100 million euros - Marcel Ciolacu.
The EU will provide grants of 45.5 million euros for the implementation of 3 Moldovan-Romanian projects worth 90.9 million euros under the Connecting Europe Facility.
The EU will provide grants of 45.5 million euros for the implementation of 3 Moldovan-Romanian projects worth 90.9 million euros under the Connecting Europe Facility.
The EU has allocated 10 new grants totaling 375,000 euros for the creation or development of social enterprises in Moldova.
The EU has allocated 10 new grants totaling 375,000 euros for the creation or development of social enterprises in Moldova.
President of the European Parliament, Roberta Metsola, announced an additional 145 million euros in macro-financial assistance for Moldova.
President of the European Parliament, Roberta Metsola, announced an additional 145 million euros in macro-financial assistance for Moldova.
Chisinau City Hall signed agreements with the European Bank for Reconstruction and Development for 12 million euros, of which 4 million euros is a grant.
Chisinau City Hall signed agreements with the European Bank for Reconstruction and Development for 12 million euros, of which 4 million euros is a grant.