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Moldova, International Development Association sign social assistance financing agreement

21-12-2011

Finance Minister Veaceslav Negruta and World Bank Country Manager for Moldova Abdoulaye Seck signed a financing agreement between Moldova and the International Development Association (IDA) in Chisinau on 20 December. The assistance is meant for the implementation of a project on strengthening the efficiency of the social assistance network. According to the Finance Ministry's press service, the project aims at increasing the access to quality and efficient healthcare services in order to decrease the death rates and the cases of premature disability, as well as at improving the management of transfers and social services provided to less well-off people. The project on healthcare services and social assistance can offer a decisive contribution to the government's current efforts of upgrading the healthcare and social assistance systems in Moldova. Initially, a sum of 11.3 million special drawing rights (SDR) (about 17 million dollars) was envisaged in the agreement for financing the "Healthcare and social assistance services" project. To benefit from additional financing, representatives of the Moldovan government held negotiations with officials of the International Development Association on 26-31 October, after which they agreed on an additional loan of 6.6-million SDR (about 10.2 million dollars), given by the IDA . The loan is offered for a 25 year-period, with a 5-year grace period, a 0.5-per-cent commitment fee, a 0.75-per-cent service fee and a 1.25-per-cent interest rate. On 8 December 2011, the IDA management board approved the financing agreement for the implementation of the "Healthcare and social assistance services" project, the Finance Ministry's press service has reported.

MOLDPRES


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