{"id":251157,"date":"2008-05-14T21:37:00","date_gmt":"2008-05-14T21:37:00","guid":{"rendered":"http:\/\/new.moldova.org\/2008\/05\/14\/moldova-will-receive-three-credits-worth-30m-from-world-bank-119150-eng\/"},"modified":"2008-05-14T21:37:00","modified_gmt":"2008-05-14T21:37:00","slug":"moldova-will-receive-three-credits-worth-30m-from-world-bank-119150-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/moldova-will-receive-three-credits-worth-30m-from-world-bank-119150-eng\/","title":{"rendered":"Moldova will receive three credits worth $30m from World Bank"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The World Bank on May 13 approved three credits worth a total of $30 million to Moldova through the International Development Association (IDA). The credits are targeted at bolstering efforts of projects that are already working to help farmers be more competitive, to improve access to clean water and sanitation services and to support reforms to make government more efficient and effective. <\/p>\n

“Moldova is making good progress on a variety of fronts,” said Melanie Marlett, World Bank Country Manger for Moldova. “All three of the projects approved today will target areas where we have already seen some real successes. We will continue to work with the government and other development partners to build on those successes with the aim of improving the quality of life in Moldova.” <\/p>\n

According to a press release from the World Bank, additional financing for Rural Investment & Services Project 2 was approved in the amount of US$6 million. The Program objective is to accelerate agricultural recovery and growth so that Moldova’s agricultural and rural sectors can generate greater income and reduce poverty in the process. The Program has been under implementation since June 2006. Additional financing is being sought to ensure that farmers have the resources and knowledge necessary to adapt and minimize losses from severe weather phenomena such as drought, in order to ensure the long-term viability of the country’s agricultural sector. <\/p>\n

The World Bank is also supporting the Government of Moldova through the National Water Supply & Sanitation Program with an IDA credit of US$14 million. Despite some of the successes of the Pilot Water Supply & Sanitation Project, there are still significant challenges that need to be overcome in the sector. Only about 66 percent of rural communities have piped water systems. Further, the quality of drinking water is generally poor and service is intermittent. <\/p>\n

Moldovans will also benefit from a US$10 million IDA credit to support the Second Poverty Reduction Support Credit (PRSC2) which will strengthen and deepen the reform efforts supported by the first PRSC. The credit will support the Moldovan Government’s efforts to accelerate shared economic growth and improve governance by addressing the efficiency and effectiveness of its expenditure programs and public administration – key elements in poverty reduction. To this end, PRSC2 will continue to support selective areas of the Government’s reform agenda in critical areas, including improvements in the investment climate, improving the efficiency and management of public resources and strengthening pension and social assistance systems. <\/p>\n

All three credits are offered on standard IDA terms, with 40-years maturity and a 10-year grace period \/\/ Reporter.MD<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>The World Bank on May 13 approved three credits worth a total of $30 million to Moldova through the International Development Association (IDA)<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-251157","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The World Bank on May 13 approved three credits worth a total of $30 million to Moldova through the International Development Association (IDA). The credits are targeted at bolstering efforts of projects that are already working to help farmers be more competitive, to improve access to clean water and sanitation services and to support reforms to make government more efficient and effective. <\/p>\n

“Moldova is making good progress on a variety of fronts,” said Melanie Marlett, World Bank Country Manger for Moldova. “All three of the projects approved today will target areas where we have already seen some real successes. We will continue to work with the government and other development partners to build on those successes with the aim of improving the quality of life in Moldova.” <\/p>\n

According to a press release from the World Bank, additional financing for Rural Investment & Services Project 2 was approved in the amount of US$6 million. The Program objective is to accelerate agricultural recovery and growth so that Moldova’s agricultural and rural sectors can generate greater income and reduce poverty in the process. The Program has been under implementation since June 2006. Additional financing is being sought to ensure that farmers have the resources and knowledge necessary to adapt and minimize losses from severe weather phenomena such as drought, in order to ensure the long-term viability of the country’s agricultural sector. <\/p>\n

The World Bank is also supporting the Government of Moldova through the National Water Supply & Sanitation Program with an IDA credit of US$14 million. Despite some of the successes of the Pilot Water Supply & Sanitation Project, there are still significant challenges that need to be overcome in the sector. Only about 66 percent of rural communities have piped water systems. Further, the quality of drinking water is generally poor and service is intermittent. <\/p>\n

Moldovans will also benefit from a US$10 million IDA credit to support the Second Poverty Reduction Support Credit (PRSC2) which will strengthen and deepen the reform efforts supported by the first PRSC. The credit will support the Moldovan Government’s efforts to accelerate shared economic growth and improve governance by addressing the efficiency and effectiveness of its expenditure programs and public administration – key elements in poverty reduction. To this end, PRSC2 will continue to support selective areas of the Government’s reform agenda in critical areas, including improvements in the investment climate, improving the efficiency and management of public resources and strengthening pension and social assistance systems. <\/p>\n

All three credits are offered on standard IDA terms, with 40-years maturity and a 10-year grace period \/\/ Reporter.MD<\/p>\n

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