U.S. provides US$10m to Moldova for economic growth

The United States will give US$10 million to the Republic of Moldova to foster export-oriented economic growth. On August 25, the Government’s secretary general Victor Bodiu and charge d’affaires of the U.S. Embassy Marcus Micheli signed an amendment to a previous assistance agreement, concerning the provision of an additional US$10 million in non-reimbursable assistance to Moldova, Info-Prim Neo reports, quoting a communiqué from the Government. Under the initial agreement signed on July 2, 2010, US$10.1 million was to be provided to Moldova to support the economic growth. The additional funds will be used to further develop the high-value agricultural products that are mainly designed for export. “This financial support will contribute to implementing the Moldovan Government’s program and achieving such objectives as improving the business environment, promoting exports, increasing competitiveness and stimulating economic activity in general,” said Victor Bodiu. He also said that the export growth rate in the first half of 2011 was much higher and for the first time in a long period exceeded imports. The industrial production and agricultural output over January-June rose by 9.1% and, respectively, 3.9%. For his part, Marcus Micheli said the U.S. Government launched in Moldova programs to improve the competitiveness of the private sector and the economic opportunities. The signed document supports the policies, legal framework and administrative practices that affect the private sector. The U.S. official said that one of the goals of this program is to provide assistance in creating a working group under the Ministry of Finance for reviewing Moldova’s Customs Code so that it meets the European standards.