The World Bank’s Board of Executive Directors approved the Growth and Resilience Development Policy Operation (DPO) for the Republic of Moldova that will support the Government of Moldova’s efforts to assist refugees and households in the face of the fallout from Russia’s invasion of Ukraine, while keeping momentum on the long-term agenda of economic integration with the European Union (EU) and enhancing climate resilience, IPN reports, with reference to a press release of the World Bank.

The $40 million budget support operation aims to support the government’s short-term objectives to continue providing support to the most vulnerable, including enhancing the social safety net 'Ajutor Social' program that supports refugees and women’s participation in the labor market, and helping vulnerable and refugee-hosting families to cover the rising costs of energy consumption.

“Moldova is grappling with unprecedented challenges due to external shocks. The DPO will address immediate needs, such as sustaining support for the most vulnerable to mitigate the impact of the multiple crises, while also contributing to the broader objective of fostering a more competitive, resilient, and private sector-led economy,” said Inguna Dobraja, World Bank Country Manager for Moldova.

Additionally, the DPO supports Moldova's long-term objectives to create a more competitive and resilient economy driven by the private sector.

This operation is part of a broader financial assistance package, including support from the International Monetary Fund, the EU, and the World Bank.