Economic

The Republic of Moldova will benefit from financial support of over 40 million euros from the World Bank

The Republic of Moldova will benefit from budgetary support in the amount of about 40 million euros from the World Bank. The members of the Economy, Budget and Finance Parliamentary Committee examined the draft ratification of a loan agreement in this regard.

According to a press release from the Parliament's Communication and Public Relations Directorate, the agreement provides for a loan of 37.3 million euros and a grant of five million dollars. The financial resources will be allocated in a single tranche. The loan is offered for 29 years, including the 9-year grace period, and the interest rate is variable.

The disbursement of the money was conditional on the adoption of several new normative acts, connected to the EU legislation, such as the laws on the energy performance of buildings, climate actions and the Forestry Code.

The ratification of the Loan Agreement is to be examined in the plenary session of the Parliament.

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