Moldovan government approves agreement on financing on implementation of project on emergency response to COVID-19

Chisinau, 13 May /MOLDPRES/ - The cabinet of ministers today approved a decision on the approval of a draft law on the ratification of the agreement on financing between Moldova and the International Development Association (IDA) on the implementation of the project on response to COVID-19, signed on 28 April 2020.    

The draft law on the ratification of the agreement on financing between Moldova and the International Development Association (IDA) on the implementation of the project on response to COVID-19 was negotiated by representatives of the Finance Ministry, Health, Labour and Social Protection Ministry and Foreign Affairs and European Integration Ministry in last April.

The overall cost of the project, which is to be financed from sources of IDA’s loan, is 52.9 million euros, and its development goal is to prevent, detect and respond to the threats posed by the COVID-19 pandemic.  

The project proposed will be structured in two components: immediate response to COVID-19 (confirmation of cases, strengthening the health system, informing activities, as well as social and financial support for households); management, monitoring and assessment of the implementation.   

The project will be implemented by the Health, Labour and Social Protection Ministry, through the special unit set up to this end and the maximal term of implementation is till 30 April 2022. The loan’s repayment period starts on 15 October 2025 and ends on 15 April 2050. The cumulative interest rate (including the service tax) is 0.75 per cent annually.