The International Bank for Reconstruction and Development will provide Moldova with a loan of more than 37 million euros and a $5 million grant for the program “Development Policy Operations to Support Growth and Sustainability”. The government approved the signing of the agreement, according to ipn.md.
According to the draft, the loan and the grant will be used for budgetary support through the International Bank for Reconstruction and Development. The agreement includes 11 conditions, including improving conditions for hiring young workers for light work and refugees for temporary or permanent assignments, changes in competition law to strengthen the independence of the Competition Council and raise the ceiling for minimum aid, as well as harmonizing the legislation with EU energy market requirements for transparency and integrity.
Finance Minister Petru Rotaru emphasized that all the necessary conditions have been fulfilled and the relevant regulations have been adopted. After the loan agreement enters into force, the transfer of funds will start.
The loan repayment period is up to 29 years, including a grace period of 9 years. The interest rate on the loan is variable and the commitment fee is 0.25% of the unused amount, with a one-time fee of 0.25% of the loan amount. The loan and the grant will be transferred in one installment.
