WB okays assistance to Moldova in form of grants & loans for $159M

The Board of Directors of the World Bank (WB) has approved a program to support the Moldovan budget with grants and loans totaling $159.24 million, Report informs referring to the WB office in Moldova.

“The WB Board of Directors has approved measures for the Republic of Moldova to respond to emergencies, as well as to increase sustainability and competitiveness in the amount of $159.24 million,” the report says. The bank said the support will help the country’s government mitigate the impact of the conflict in neighboring Ukraine on refugees and households, as well as “reduce vulnerability to future shocks.”

The program includes loans from the International Development Association (IDA) for $107 million, the European Bank for Reconstruction and Development - for $43 million, as well as gratuitous assistance for $9.24 million from the WB Global Concessional Financing Facility.