Moldova Ratifies Agreement with Canada on a CAD 120 Million (US$ 88.8 Million) Loan for State Budget Needs
In particular, the Parliament adopted in the second reading the draft ratification of the relevant loan agreement, which was signed on September 6, 2024. The funds will be allocated to Moldova through Global Affairs Canada to finance the general needs of the state budget and implement the World Bank's "Development Policy for Operations to Support Growth and Resilience in Moldova" program, which was signed on July 11, 2024 between Moldova and the International Bank for Reconstruction and Development, a member of the World Bank Group. Thus, the allocated funds will be used to support the budget to increase the resilience of refugees and households; promote sustainable growth through increased competition and private sector-led economic growth; support Moldova's climate resilience and transition to green energy. The loan will be allocated to Moldova for a period of 10 years, including a grace period of 4 years. The interest rate will be 3% per annum, one-time fee - 100 thousand Canadian dollars. The loan will be provided in 2 tranches. The first tranche of $60 million will be allocated by the end of December 2024, and the second - $28.8 million - by mid-2025. // 08.11.2024 – InfoMarket.
