{"id":443154,"date":"2016-12-20T10:12:03","date_gmt":"2016-12-20T10:12:03","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=443154"},"modified":"2016-12-20T10:12:56","modified_gmt":"2016-12-20T10:12:56","slug":"world-bank-offers-45-million-budgetary-support-moldova","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/world-bank-offers-45-million-budgetary-support-moldova\/","title":{"rendered":"World Bank offers $45 million of budgetary support to Moldova"},"content":{"rendered":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

On December 16th, the Board of Director of the World Bank approved<\/a> the 45 million US dollars Second Development Policy Operation (DPO-2) for the Republic of Moldova.<\/p>\n

The DPO-2 budgetary aid is aimed at supporting the Government of Moldova to\u00a0“make business regulation more transparent and less burdensome, improve bank regulation and supervision and to spend public money more efficiently”<\/em>. The ultimate purpose would be to encourage businesses to invest and create jobs in Moldova, but also to focus public expenditures where it is most useful.<\/p>\n

First Development Policy Operation was approved in March 2014. The current operation is a key component of the Moldova Country Partnership Strategy for 2014-2017 and supports the Government of Moldova\u2019s National Development Strategy \u201cMoldova 2020\u201d.<\/p>\n

The approval of the second development policy operation has followed actions taken by the National Bank of Moldova and the Government to restrict fraud in the banking sector. As agreed policy measures for DPO-2, the World Bank supported the withdrawal of the licenses of Banca de Economii, Banca Sociala and Unibank, diagnostic audits of other large banks, and measures to strengthen bank regulation and supervision. Seems like the World Bank worked together with the International Monetary Fund on recommendations for good financial sector governance in Moldova.<\/p>\n

Since Moldova joined the World Bank Group in 1992, over US$1 billion has been allocated to approximately 60 projects in the country. Currently, the World Bank portfolio includes 9 active projects with a total commitment of US$356.15 million. Areas of support include regulatory reform and business development, education, social assistance, e-governance, healthcare, agriculture, local roads, environment, and more.<\/p>\n

On November 7th, the International Monetary Fund approved a $178,1 million<\/a> finance program to Moldova, after long delays caused by the total lack of good governance in Moldova.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>On December 16th, the Board of Director of the World Bank approved the 45 million US dollars Second Development Policy Operation (DPO-2) for the Republic of Moldova. The DPO-2 budgetary aid is aimed at supporting the Government of Moldova to\u00a0“make business regulation more transparent and less burdensome, improve bank regulation and supervision and to spend […]<\/p>\n","protected":false},"author":6,"featured_media":443155,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-443154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> < 1<\/span> minute<\/span><\/span>

On December 16th, the Board of Director of the World Bank approved<\/a> the 45 million US dollars Second Development Policy Operation (DPO-2) for the Republic of Moldova.<\/p>\n

The DPO-2 budgetary aid is aimed at supporting the Government of Moldova to\u00a0“make business regulation more transparent and less burdensome, improve bank regulation and supervision and to spend public money more efficiently”<\/em>. The ultimate purpose would be to encourage businesses to invest and create jobs in Moldova, but also to focus public expenditures where it is most useful.<\/p>\n

First Development Policy Operation was approved in March 2014. The current operation is a key component of the Moldova Country Partnership Strategy for 2014-2017 and supports the Government of Moldova\u2019s National Development Strategy \u201cMoldova 2020\u201d.<\/p>\n

The approval of the second development policy operation has followed actions taken by the National Bank of Moldova and the Government to restrict fraud in the banking sector. As agreed policy measures for DPO-2, the World Bank supported the withdrawal of the licenses of Banca de Economii, Banca Sociala and Unibank, diagnostic audits of other large banks, and measures to strengthen bank regulation and supervision. Seems like the World Bank worked together with the International Monetary Fund on recommendations for good financial sector governance in Moldova.<\/p>\n

Since Moldova joined the World Bank Group in 1992, over US$1 billion has been allocated to approximately 60 projects in the country. Currently, the World Bank portfolio includes 9 active projects with a total commitment of US$356.15 million. Areas of support include regulatory reform and business development, education, social assistance, e-governance, healthcare, agriculture, local roads, environment, and more.<\/p>\n

On November 7th, the International Monetary Fund approved a $178,1 million<\/a> finance program to Moldova, after long delays caused by the total lack of good governance in Moldova.<\/p>\n

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