The $250 million DPL program is “the first of two WB operations based on thorough economic analysis, a sustained pace of reforms supported by previous DPL programs, and close cooperation with the EU and the International Monetary Fund (IMF),” the official statement said. The second operation of donor support for the Moldovan government on its way to the EU has not yet been reported.
“A decisive reorientation towards productivity-led and inclusive growth will greatly help Moldova move closer to EU income levels. Moldova now has a unique opportunity to capitalize on the momentum of its candidacy for EU membership, and the World Bank Group will continue to fully support the country’s ambitious reform agenda,” said Ulrich Schmitt, World Bank Country Manager for Moldova.
The loan will support reforms aimed at improving the competitiveness, efficiency, and transparency of the Moldovan market through concrete measures. These include “more competitive and sustainable procurement methods, simplified business registration, as well as strengthening innovation and consumer protection in the banking sector, and promoting sustainable finance in line with EU taxonomy standards.
The program also aims “to improve access to pre-school education and facilitate the exit of seasonal workers from the shadow. Another set of reforms aims to increase sustainability and economic integration, focusing on Moldova’s integration into EU electricity markets, modernization and efficiency improvements in district heating, and the implementation of sustainability principles in the development of the Trans-European Transport Network (TEN-T) corridor.
The WB has already provided Moldova with more than 1.8 billion dollars. Currently, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), both members of the World Bank Group, are engaged in financial sector projects, private and public sector consulting, and risk insurance.
