WB grants three credits to Moldova to bolster efforts of implemented projects

The World Bank Country Director for Ukraine, Moldova and Belarus Paul Bermingham and Minister of Finance Mariana Durlesteanu on June 2 signed three financing agreements for Moldova worth a total of US$30 million. The credits are targeted at bolstering efforts of projects that have been already implemented, Info-Prim Neo reports. Mariana Durlesteanu said that Moldova will benefit from a US$10 million IDA credit to support the Second Poverty Reduction Support Credit (PRSC2) which will support the Moldovan Government’s efforts to accelerate shared economic growth and improve governance by addressing the efficiency and effectiveness of its expenditure programs and public administration. The World Bank is also supporting the Government of Moldova through the National Water Supply and Sanitation Program with an IDA credit of US$14 million. Despite some of the successes of the Pilot Water Supply & Sanitation Project, there are still significant challenges that need to be overcome in the sector. Only about 66 percent of rural communities have piped water systems. The capacities of the Ministry of Construction and Territorial Development to work out and supervise the implementation of investment projects will be strengthened as part of this project. Additional financing for Rural Investment and Services Project 2 was approved in the amount of US$6 million. Additional financing is being sought to ensure that farmers have the resources and knowledge necessary to adapt and minimize losses from severe weather phenomena such as drought, in order to ensure the long-term viability of the country’s agricultural sector. Paul Bermingham said that the three credits are the last offered by the WB to Moldova as part of the three-year program that ends late in June. “I’m glad to ascertain that all the credits granted by the World Bank as part of this program have been turned to good account,” Paul Bermingham said. The WB official also said that the new assistance program for Moldova is being finalized and it would center on supporting the implementation of Moldova’s medium-term National Development Strategy. Eleven projects worth US$258 million are now under implementation in Moldova in such areas as administration of public money, enhancement of competitiveness, healthcare, education, road building, agriculture and others. Moldova has established partnership relations with the World Bank 15 years ago.