World Bank to provide Moldova with over 57 million dollars to manage impact of pandemic

12:00 | 09.04.2020 Category: Economic

Chisinau, 9 April /MOLDPRES/- The World Bank is finalizing a 57.4 million dollar- emergency financial aid project for the Republic of Moldova for the authorities to manage and reduce the impact of the economic crisis caused by the COVID-19 pandemic.

The World Bank released the economic forecast for spring of this year for Europe and Central Asia, showing that countries in this region will face an economic downturn in 2020. The report shows that this year, Moldova’s economy will decrease, a gradual recovery starting to appear only in the third quarter of the year.

According to the World Bank forecast, if coronavirus infection persists beyond the second quarter of this year, the economic effects will be more severe, leading to a deeper recession and long-term losses in terms of production and jobs.

The economy is expected to recover in 2021, as the global economy improves following the pandemic.

The World Bank is finalizing a program of activities to help Moldova manage and mitigate the impact of the crisis, including through a 57.4 million dollar- emergency financial aid project. It is intended to support the immediate needs of the health sector in combating the pandemic and to support households and workers who lose their jobs, by granting them social assistance allowances.

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