The Government adjusted the legal framework so that the Social Investment Fund in Moldova (FISM) could carry on its work. The decision also contains new provisions regarding the status and role of the fund's executive body, IPN reports.
The head of the fund will be the executive director and not the executive division. This change aims to enhance the role and responsibility of the manager in the fund's management.
The executive director will be selected through contest and appointed by FISM's National Council. He will be sacked only after an assessment of his work. The executive director will have to present quarterly, annual and final reports about the implementation of projects to the National Council and, if required, to development partners.
FISM was launched by the World Bank in 1998 and in time became a popular project. Originally FISM projects were financed by the World Bank, but now there are more partners involved.
