Political

Japan grants a new tranche of financial assistance worth $17 million

Japan is providing Moldova with a new tranche of financial assistance worth $17 million. The announcement was made by Japan's Ambassador to Moldova, Yamada Yoichiro, during a meeting with the Minister of Foreign Affairs and European Integration, Deputy Prime Minister Nicu Popescu.

The money is intended to cover the interest rate paid to the World Bank in the context of financing development projects in Moldova.

"I would like to thank the Japanese side for this gesture of support, which is part of the substantial portfolio of assistance provided by Japan, so necessary for our country to overcome the challenges we face in the tense security situation in the region," Nicu Popescu wrote on his Facebook account.

During the meeting, topics related to the agenda of bilateral relations between the two countries in the political, commercial-economic, investment and assistance projects fields were discussed.

Nicu Popescu and Yamada Yoichiro expressed their openness to advance the Moldovan-Japanese partnership, to diversify the mutually beneficial and sectorally diversified cooperation between Moldova and Japan.

Moldova established diplomatic relations with Japan in March 1992. The legal framework of Moldovan-Japanese relations comprises 40 agreements concluded at government level. Six other agreements are under negotiation.

According to data from the National Bureau of Statistics, the volume of foreign trade in 2022 amounted to $76.7 million. Exports from Moldova recorded $2.8 million, and imports from Japan - $73.9 million.

After the US and the EU, Japan is the third largest donor to Moldova. Japan has provided various grants in the agricultural sector: the 2KR project, technical assistance for increasing agricultural production, with a total value of approx. $26.54 million. In the social sector, Japan has provided assistance for the installation of biofuel boilers in public institutions, and for equipping medical institutions with high-performance equipment. Japan has also provided grants in the field of culture.

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