OREANDA-NEWS. February 09, 2009. Till 2012, WB will allocate to Moldova about US 200 million within the frameworks of the New Partnership Strategy.

This was announced by the manager of WB in Moldova Melanie Marlette at the press conference devoted to launch of the partnership strategy of the World Bank with Moldova for 2009-2012, approved by the Board of Directors of the World Bank on January 29, 2009.

Melanie Marlette said that the document provides allocation to Moldova about US 45-50 million per year. The part of these funds will be allocated directly to the country to support the budget. The remaining funds will be distributed for implementation of investment projects aimed at promoting further economic growth and poverty reduction.

The strategy includes investment in upgrading infrastructure and expanding public access to governmental services, as well as projects promoting creation of regional or global public goods for improvement of environmental conditions. In addition to credit, WB will render various analytical and consulting services that help to attract investment and provide guarantees by means of the agencies within the World Bank Group (International Finance Corporation and the Multilateral Investment Guarantee Agency) to strengthen and further develop the financial and private sector of Moldova.

As Melanie Marlette said, the partnership strategy should lay foundations for economic growth, improve the competitiveness of the economy, minimize social and environmental risks, enhance human capital, promote social inclusion and improve governance. In particular, within the frameworks of the new strategy it is planned to increase means allocated to the Social Investment Fund, to continue the Second Energy project focused on installation of heating systems in schools, hospitals, kindergartens and medical institutions of the country.

Within the strategy it is also possible to increase financing of the project aimed at improving competitiveness of Moldovan enterprises. It is planned that through implementation of the current strategy, Moldovan authorities will be able to reduce the poverty rate by 20% and to achieve earlier planned annual GDP growth of 6%.