Moldova to borrow US$25 million from IDA

The International Development Association (IDA) will provide a loan of US$25 million to Moldova for implementing the collective short-term policies included in the economic recovery and stabilization program, Info-Prim Neo reports. The Government approved a decision to initiate the negotiation of the lending agreement and delegated a group of negotiators that will be led by Minister of Finance Veaceslav Negruta. According to Negruta, the money will be used to implement the major measures aimed at ensuring social protection and economic recovery and post-crisis actions designed to support the exports and private investments. The loan is repayable in 20 years with a grace period of 10 years. The interest rate is 0.75%.