World Bank to provide Moldova with loan of 37.3 million euros, two grants worth 15.5 million euros

Chisinau, 31 July /MOLDPRES/ - Moldova will benefit from a loan worth 37.3 million euros and additionally, from a grant of five million euros, provided as budgetary support by the World Bank. The parliament ratified the agreement stipulating this today.   

The financial resources will be provided as budgetary support and will be disbursed in a single installment. The maturity of the loan is 29 years, including a grace period of nine years and the interest rate is variable.  

The parliament’s communication department said that the disbursement of the loan was conditioned by 11 actions, all of which had been fulfilled by Moldova.   

Also today, the parliament ratified another Agreement, under which Moldova will benefit from 10.5 million dollars, provided by the World Bank. The money is meant for the financing of the state budget’s needs.    

The financial resources will be disbursed in a single installment, after 11 conditions are fulfilled. Among them, there is the amendment of the Law on social benefit, the amendment of the Labour Code for enhancing the flexibility as to the employment, adoption of amendments to the legislation of the Energy Vulnerability Reduction Fund, amendment of the Law on competition, etc. The deadline for the disbursement of the 10.5 million dollars is 30 June 2026.      

Both agreements were signed on 11 July 2024, for the carrying out of the Moldova  Supporting Growth and Resilience Development Policy Operation Project. The project regards the ensuring of residents’ access to the labour market, adjusting of the legal framework on the social assistance, adjusting the legislation to the European Union’s acquis in the field of competition and state benefit, enhancing the governance and competition in the energy sector, consolidation of the financial and banking system, sustainable management of forests and the climate commitments.