The next tranche of aid is part of the ongoing Partnership Framework with RM and is intended “to support the government in responding to the energy and migration crises and build resilience to future shocks.”
Among the “future shocks”, in addition to those listed, is a weak capacity to make appropriate decisions based on EU standards. Readiness to respond to any emergencies with climate, energy, labor market, influx of migrants is the main goal of the WB program.
“Moldova has faced multiple crises that have drained household purchasing power and public resources, exposing weaknesses in the country’s growth model,” said Inguna Dobraia, WB Group Country Manager for Moldova. – Moldova has a unique opportunity to accelerate reforms that will ensure stronger economic growth and faster job creation. The World Bank’s support will underpin critical reforms to create a functional market economy, improve competitiveness, equip the labor force with the necessary skills, and strengthen energy security.”
Support will focus on three areas: enhancing private sector competitiveness; improving employment and education opportunities for youth through dual education at universities; and strengthening the legal and regulatory framework.
The Shock Resilience Reform Agenda will receive a $7.7 million grant for the Moldova: Growth, Resilience and Opportunities for Well-being (M-GROW) program and an $8 million grant from the Global Concessional Financing Facility (GCFF) to support the authorities’ efforts to address the refugee crisis.
To date, the GCFF has provided $67.22 million in grants to Moldova, allowing it to receive $557.91 million in concessional loans. The money is provided through aid from the Dutch government.
