Finances

​WB TO PROVIDE US$30 MILLION AS BUDGET SUPPORT TO MOLDOVA

18 january, 2017

The World Bank (WB) will provide US$30 million to Moldova for budget support, said Alex Kremer, the World Bank Country Manager for Moldova, on Tuesday.

He said that the preparation for the providing of budget assistance to Moldova has already started.

It is directed to combating corruption and preventing violations from the side of officials in relation to the business environment. The new year will become for Moldova a year of new challenges, but also – of new opportunities, Kremer said.

According to him, the WB is also ready to take part in financing the project of interconnecting Moldovan and Romanian energy systems. For this, around US$100 million may be allocated.

“Competition on this market is very important. Joining the European energy system, Moldova will get the opportunity to buy electricity on the regional market in best conditions”, head of the WB office in Moldova said.

He did not exclude that the bank will provide to Moldovan authorities assistance in finalizing the cadastre assessment of immoveable property in the republic.

As Infotag has already reported, in December 2016, the WB Board of Directors approved the providing to Moldova of US$45 million for supporting Government’ efforts in stimulating business, attracting investments and creating of new jobs. The funds will be provided for supporting budget within the second operation of development policies, directed to conducting of structure reforms for business environment facilitation and transparency raising, for ensuring financial sector stability, raising the state investment administration efficiency, including fair distribution of subsidies in agriculture.

The provided assistance is the continuation of the first operation, approved in March 2014, and is a part of Strategy of Partnership with Moldova for 2014-2017.

Infotag’s dossier: Moldova joined the WB Group in 1992 and since then has used more than US$1 billion, provided to it by the bank for implementing more than 60 projects.

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