The International Bank for Reconstruction and Development (IBRD) will offer the Republic of Moldova US$90 million in grant funding. The Parliament’s commission on foreign policy and European integration approved the consultative opinion on the initiation of negotiations and the signing of a relevant agreement IPN reports.
According to the legislature’s press service, the grant will be disbursed in one trance and will be used to co-finance the Second Emergency Response, Resilience, and Competitiveness Development Policy Operation (DPO2).
The financial assistance will become available by September 30, 2023. The money will go to finance state budget needs for the purpose of alleviating the negative consequences generated by the war in Ukraine and to bolster the country’s resilience and enhance competitiveness.
The DPO2 comprises an IBRD loan of €92.1 million and benefits from a co-financing grant of $9.3 million from the Moldova Development Policy Multi-Donor Trust Fund, as well as a $25 million concessional contribution from the Global Concessional Financing Facility. The financing for the program was approved by the World Bank at end-May.
