Parliament ratified the US$3.8 million agreement of cooperation between the Republic of Moldova and the International Finance Corporation (IFC). The money will be used to enhance the private sector’s competitiveness in the export of products of animal origin, including poultry, eggs, milk and dairy products, to the European Union, IPN reports.

The agreement for implementing the Moldova Investment Climate Reform Project (stage II) is valid until June 30, 2023.

Of the total value of the project, IFC will contribute US$2.8 million, while the Government of Moldova – US$1 million by financing state institutions, including by making payments for goods and services needed for implementing the project. Direct contributions from the state budget are not envisioned.

The International Finance Corporation is a member of the World Bank group.