Moldova to receive $30 million to further enhance competitiveness

The Wolrd Bank offers Moldova $30 million to enhance its competitiveness by improving its investment climate and increasing access to finance, the WB Office in Moldova said in a press release. The amount is intended to supports the Government of Moldova’s Program for 2011-2014 and builds on the growth and trade-oriented structural reform agenda supported by an earlier World Bank Economic Recovery Development Policy Operation in June 2010. “We are pleased to support the Government of Moldova’s efforts to boost growth through investment, innovation and competitiveness”, said Abdoulaye Seck, World Bank Country Manager for Moldova. “Moldova’s future as a small open economy lies in its ability to capitalize on its human resources, whilst creating a favorable policy environment for trade, investments, innovation and thriving business activity”. The current operation supports investment climate reform through simplifying business regulation, reducing non-tariff barriers to trade, harmonizing Moldovan product standards with EU standards, reducing inspections and anti-competitive practices, and increasing the competitiveness of Moldovan agro-food exports. It also aims to boost private finance for investment. Since Moldova joined the World Bank in 1992, a total of $910 million have been allocated to 45 operations in the country.