Minister of Finance Mariana Durlesteanu and the World Bank Country Director for Ukraine, Moldova and Belarus Paul Bermingham on June 2 signed three financing agreements between the Government of Moldova and the International Development Association (IDA) worth a total of US$30 million.

According to the Ministry of Finance, the credits are targeted at bolstering efforts of projects that are already working to help farmers be more competitive, to improve access to clean water and sanitation services and to support reforms to make government more efficient and effective.

Additional financing for Rural Investment & Services Project 2 was approved in the amount of US$6 million. The World Bank is also supporting the Government of Moldova through the National Water Supply & Sanitation Program with an IDA credit of US$14 million. Moldovan will also benefit from a US$10 million IDA credit to support the Second Poverty Reduction Support Credit (PRSC2) which will strengthen and deepen the reform efforts supported by the first PRSC.

All three credits are offered on standard IDA terms, with 40-years maturity and a 10-year grace period, at an interest rate of 0.75% and a commitment fee of 0.5% // Reporter.MD


Publication date: 02 June 2008   

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