The Republic of Moldova and the International Finance Corporation are to sign an agreement of cooperation to the value of US$3.8 million for implementing the Moldova Investment Climate Reform Project (stage II). The Parliament’s commission on economy, budget and finance on November 3 approved the report on the bill to ratify the agreement, IPN reports.

According to the legislature’s press service, the goal is to enhance the private sector’s competitiveness in the export of products of animal origin, including poultry, eggs, milk and dairy products, to the European Union and to strengthen the horticultural sector’s export capacities.

Of the total value of the project, IFC will contribute US$2.8 million, while the Government of Moldova – US$1 million by financing state institutions, including by making payments for goods and services needed for implementing the project. Direct contributions from the state budget are not envisioned.

The agreement is valid until June 30, 2023.