World Bank to support modernisation of Moldovan fiscal administration

20:28 | 17.08.2016 Category: Official

Chisinau, 17 August /MOLDPRES/- The cabinet today approved a draft law on ratifying financing agreement between Moldova and International Association for Development and loan agreement with International Bank for Reconstructiona nd Development on carrying out a project for modernising fiscal administration, the government's communication and media relations service has reported.

Under the document, the World Bank will offer two loans via its institutions: International Association for Development - will provide 5.3 million of Special Drawing Rights and International Bank for Reconstruction and Development - will earmark 12.58 million dollars.

The draft is to be carried out by late 2021 and is meant to increase welfare of Moldovans by improving the business climate, increasing competitiveness of the country, modernising the fiscal administration system and fortifying capacity of collecting incomes to the public budget.

The agreements were signed on 28 June 2016 and are in line with the EU legislation.

(Editor L. Alcază)

Any material published on the website of the Public Institution ’’A.I.S. Moldpres’’ (Moldpres News Agency) is intellectual peoperty of the Agency, protected by the copyright. The taking over or/and use of these materials will be made only with the Agency’s agreement and with compulsory reference to source.