World Bank provides financial support to Moldova to mitigate consequences of war in Ukraine
The World Bank will provide the Republic of Moldova with a grant of $88.4 million under the "Moldova, Emergency Response, Resilience and Competitiveness" programme. Development Policy Operation 2".
Parliament ratified the Multi-Donor Trust Fund Grant Agreement between the Republic of Moldova and the International Bank for Reconstruction and Development and the International Development Association, signed on 9 August 2023.
"The money will be used to finance the needs of the state budget in order to mitigate the negative effects of the war in Ukraine, as well as to ensure the resilience and competitiveness of our country," the Parliament's statement said.
The grant will be disbursed in a single tranche. The financial assistance, available until 30 September 2023, will be provided by the United States of America and Switzerland, on the basis of eight actions carried out by the Republic of Moldova.
At the end of May, the World Bank approved funding for the "Moldova, Emergency Preparedness, Resilience and Competitiveness Programme. Development Policy Operation 2" in the amount of €92.1 million (loan), $25 million (non-reimbursable concessional amount) and $9.3 million (grant).
In addition, the World Bank will co-finance, through the Multi-Donor Trust Fund, the Programme "Moldova, Emergency Response, Resilience and Competitiveness. Development Policy Operation 2" with $97.7 million, of which $88.4 million is the grant provided to our country.
