The International Bank for Reconstruction and Develoment will provide Moldova with 12.58 million dollars to implement a project on modernising fiscal administration. The loan agreemebnt signed on 28 June 2016 in Chisinau was approved by the government today and will be submitted to the parliament for ratification.
The above-mentioned project is in line with the World Bank Group's Country Partnership Strategy for 2014-2017. Modernisation aims at reducing costs of fiscal administration, as well as improving services for taxpayers, counteracting corruption, preventing fraud and other problems of fiscal administration.
The project amounts to 20 million dollars and will be carried out till 2021. The financing agreement with the International Association for Development, part of the World Bank Group, sees contracting 5.3 million Special Drawing Rights equivalent to 7.5 million dollars. According to the loan agreement, the International Bank for Reconstruction and Development will offer 12.58 million dollars. The Board of Directors of the World Bank approved financing worth 20 million dollars on 6 June 2016, based on these two agreements.