More transparency and efficiency in foreign loan use

The data on disbursements and expenses in projects financed by the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which are part of the World Bank group, will become more transparent, reports Info-Prim Neo, quoting the Agreement on the publication of information between Moldova, the IBRD and the IDA, signed on May 15 and proposed by the Government for ratification. The publication of information will remove the discrepancy between the data presented by the respective financial institutions, the project implementers and public authorities that coordinate the project development process, ensuring the necessary visibility in spending the public funds. The agreement does not imply any financial commitments for Moldova. The responsibility for applying the provisions of the Agreement into falls on Minister of Finance Veaceslav Negruta. Currently, the IBRD and the IDA finance projects in Moldova in the areas of education, healthcare, social sector, agriculture and others. Some foreign-financed projects housed rumors of embezzlement by Moldovan officials. The most recent such accusation was levied by businessman Vladimir Volkov against former Border Police chief Roman Revenco.