Parliament has ratified the lending agreement between Moldova and the International Development Association for financing the Modernization of the Health Sector in Moldova Project, IPN reports.

The agreement, signed last July, stipulates that 20 million Special Drawing Rights (U$30.8m) will be lent to Moldova. The loan is repayable in 25 years with a five-year grace period, a service charge of 0.75% and a commitment charge of 0.5%, at an interest rate of 1.25%. The financing will be provided mainly in the form of budget support for the health system.

The accord will come into force on April 9 at the latest, while the project will be implemented during four years and a half.