OREANDA-NEWS. On July 07, 2008 This is provided by the Financing agreement, signed by the Moldovan Government with the International Development Association, ratified by the parliament.

The document was signed in Chisinau on June 2, 2008. The loan of USD10 million will be provided to Moldova under standard conditions of the International Development Association, repayable in 40 – years-period, including 10 - year deferral, under the interest rate of 0.75% and commission of 0,5% p.a.

The main objective of the loan is promoting and deepening the reforms undertaken during the first loan line. The loan should enhance the capacity of the government in economic growth; improve cost-effectiveness, as well as state administration of the key elements of poverty reduction.

The loan should also contribute to: improving business environment and investment climate; creating more professional public sector, alongside with the growth of transparency and public funds’ spending, as well as supporting subsequent reforms in the pension and social assistance systems.