OREANDA-NEWS. July 23, 2014. It is stipulated by the credit agreement, which the Parliament of Moldova ratified at the meeting. The relevant loan agreement was signed on July 15 in Chisinau by the Deputy Prime Minister, by the Minister of economy of Moldova Adrian Candu and the head of the WB office in Moldova Abdoulaye Sec.

According to the documents, in particular, the international Bank for reconstruction and development will provide Moldova with USD 30 million for the period of 30 years with a 5-year delay on payments, and the international development Association will provide USD 15 million for the period of 25 years with 5-year grace period on payments.

The aim of the project RAS II is improving the competitiveness of Moldovan exports and reduction of pressure on business in Moldova. Abdoulaye Sec noted that the project is important for socio-economic development of Moldova and as a result, it is expected to increase volumes of the export of Moldovan products on the EU market.

The project aims to support the priorities of the Moldovan government, as it is reflected in the National development strategy "Moldova-2020", which has to improve the business environment and expanding access to Finance for enterprises.

The main components of the PAC II are: credit line for private sector support for the implementation of the regulatory reform, the development of institutional capacity of the Organization for attracting investment and export promotion of Moldova and the organization for the development of the SME sector, consultancy services, etc. Moldova became a member of the World Bank in 1992, since then, this financial institution has allocated over USD 1 billion. Now in the portfolio WB - 8 operating projects in Moldova, the amount of obligation is 189.9 million USD