The Cabinet approved the initiation of negotiations on a consultancy agreement between the Government of the Republic of Moldova represented by the Ministry of Economy and the International Finance Corporation (IFC).
Based on the agreement, the Republic of Moldova will benefit from US$ 3.2 million in technical assistance to increase investments and promote exports.
In particular, consultancy services will be provided in three key areas, which are also the project’s objectives: improvement of the business climate, strengthening of market access with emphasis on the agro-industrial sector, and increase in the investment protection level, IPN reports.
The agreement will take effect when it is ratified by Parliament.
A component part of the World Bank Group, the International Finance Corporation provides loans, capital and technical assistance to encourage investments in the private sector in developing countries.
