After the IMF approved a new program with the Republic of Moldova, which ensures access to financing of US$178.7 million, the Government of Moldova resumed the negotiations with the World Bank on a new US$45 million financing agreement. The negotiations started at the World Bank Office in Chisinau, IPN reports.

The proposed operation is a key component of the Strategic Partnership for the Republic of Moldova for 2014-2017 and is a program of structural reforms in the area of investment climate and improvement of access to investment funds. According to the Government’s press service, the opening of negotiations on this budget support program was possible following the assumption and fulfillment by the Moldovan authorities of a series of reforms.

Since Moldova joined the World Bank Group in 1992, over US$1 billion has been allocated to approximately 60 projects in the country. Currently, the World Bank portfolio includes 9 active projects with a total commitment of US$335.5 million. Areas of support include regulatory reform and business development, education, social assistance, e-governance, healthcare, agriculture, local roads and environment, among others.