The World Bank announced recently that its board of directors has approved $45 million in financing for Moldova's Second Competitiveness Enhancement Project for domestic enterprises, which supports the government's national development strategy.
"Moldova 2020," the Moldovan government's development plan, aims to improve export competitiveness and decrease the regulatory burden.
The project will support the government's regulatory reforms, development of small and medium-sized enterprises and measures to increase access to medium- and long-term financing for exporters.
"Moldova has a tremendous opportunity to boost exports-led private sector growth if it succeeds in strengthening its business enabling environment and increasing competitiveness," Abdoulaye Seck, the World Bank country manager for Moldova, said. "We look forward to working with the government to help the country realize this opportunity and ultimately create more jobs and greater prosperity for all Moldovans."
Since joining the World Bank in 1992, Moldova has received more than $1 billion for 49 projects ranging from regulatory reform and business development to education, social assistance, healthcare, agriculture and the environment.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme