In total, the country is to pay four tranches totaling €1.2025 million between 2025 and 2027 as part of the commitment to increase the bank’s share capital.
The decision to allocate the funds was taken by the government at a meeting on Wednesday. The relevant financial means are envisaged in the country’s state budget. The decision’s entry into force is necessary for the timely fulfillment of Moldova’s international commitments to the CEB.
Moldova has been a member of the Council of Europe’s Development Bank since 1998. The bank finances socially important projects in Moldova: health, education, environment, etc. The decision was approved by the government.
During the cooperation period, the bank supported 17 projects for a total amount of about EUR 307.6 million. These include the purchase of ambulances, the fight against COVID-19, the reconstruction of hospitals and prison No. 13, as well as the construction of social housing in several district centers.
It is worth noting that the project for the construction of social housing went through with violations, which in 2021 were revealed by the Audit Chamber. In particular, the Audit Chamber found an unjustified expansion of the categories of project beneficiaries, as a result of which social housing was used by persons who do not meet the criteria, whose income exceeds the legal limit, or who already own real estate.
