Helping Moldova enhance its structural reform agenda and spur growth, by supporting improvements in the business climate, promoting financial sector stability and development, and improving the equity and efficiency of public expenditures are the core objectives of the First Development Policy Operation (DPO), in the amount of US$30 million, approved by the World Bank Group Board of Executive Directors, IPN reports.

According to a press release form the World Bank, the US$30 million supports the Government of Moldova’s National Development Strategy “Moldova 2020” and is a key component of the Moldova Country Partnership Strategy for 2014-2017.

“Our support is fully aligned with the country’s national development priorities and aims to address key reforms that can contribute to spurring private-sector led growth, whilst making public investments work better and more equitably to reduce poverty and boost shared prosperity for all Moldovan citizens,” said Abdoulaye Seck, World Bank Country Manager for Moldova.

Since Moldova joined the World Bank in 1992, over US$1 billion has been allocated to 49 operations in the country. Currently, the World Bank portfolio includes 7 active projects with total commitments of US$162.2 million.