World Bank approves new lending strategy for Moldova

The World Bank approved on Thursday a new lending strategy for Moldova, which will see between $45 million to $50 million in loans a year over the next four years. The new country partnership strategy for 2009 to 2012 will focus on environmental projects, improving economic competitiveness through business reforms and ensuring transparency in the public sector, Reuters reports, quoted by Info-Prim Neo. In addition, the loans will support investments to modernize infrastructure in Moldova. "In a challenging global environment, Moldova has set the course to modernize its economy and build a prosperous European future," said Melanie Marlett, World Bank Country manager for Moldova. "The new country partnership strategy aims to build on our previous successes and provides a flexible framework to help Moldova weather global risks," she said.