The Government initiated the negotiation of a financing agreement between the Republic of Moldova and the International Bank for Reconstruction and Development (IBRD) for implementing the Moldova Emergency Response, Resilience, and Competitiveness Development Policy Operation 2 program, IPN reports.
Dina Roșca, secretary general of the Ministry of Finance, said that the goal of this program is to further support the implementation of the reforms agreed by the Government and to alleviate the effects of the crisis generated by the war in Ukraine and to also ensure resilience and economic competitiveness. The program focuses on the implementation of the action plan for offering a safer social status to refugees and for better integrating them into Moldovan society.
In total, the program envisions US$211 million in budget support, of which US$100 million will be borrowed from the IBRD, which is part of the World Bank, while US$111 million is grant funding – US$25 million from the Global Concessional Financing Facility, while US$6 million from the Multi Donor Trust Fund.
On November 11, 2022, the Ministry of Finance asked the World Bank to support an additional policy operation program for Moldova for stabilizing and growing the economy, including for implementing social and economic programs from the Moldovan Government’s reform agenda.
