The loan agreement between Moldova and the International Bank for Reconstruction and Development, which is part of the World Bank Group, was published today in the official gazette. The document that offers Moldova a 1.7 million dollars loan for the modernization of government services thus came into effect, IPN reports.

The agreement’s implementation period is one year. The loan will be provided at an interest rate of 2%. The money will be used for goals related to the modernization of public services. The government plans to improve the quality and quantity of the services provided by the central public authorities.

Obsolete services will be discontinued and others will be merged into centralized services. Local access to public services will be increased via electronic channels. The reform also aims to reduce the number of documents required to access public services and to create one stop shops in more public institutions.

The agreement was signed in Chisinau on May 4 and ratified by the Parliament on July 13.