Moldova in 2020 signed loan and financial support agreements of €418m, monitoring

During the first year of the COVID-19 pandemic, the Republic of Moldova managed to negotiate and ratify five loan agreements with international financial institutions. The financial assistance was provided for alleviating the economic and social impact of the crisis generated by COVID-19, such as covering of the budget deficit, support for micro-, small- and medium-sized enterprises and for strengthening the health system. Experts of the Institute for Strategic Initiatives, who monitor the way in which the funds provided by international financial institutions are managed, said the authorities didn’t ensure sufficient transparency in the negotiation process and didn’t adopt a strategic communication approach to inform the public about the conditions in which the assistance was offered and how the funds are used, IPN reports.

According to experts’ analyses, Moldova in 2020 signed loan and financial support agreements to the value of about €418m (approximately 9bn lei). The authors noted that Moldova has never benefited from such large assistance, from so many donors and concentrated on one area only - public health.

The analysis is carried out as part of the project “Increasing the effort of civil society in the Republic of Moldova in monitoring the funds provided by international financial institutions in connection with the COVID-19 crisis that is supported by Soros Foundation Moldova. Being convinced that the citizens should know the international financial institutions that offer support to Moldova and the conditions in which support is provided, and also who the final beneficiaries are, Natalia Camburian, director of the Good Governance Department of Soros Foundation Moldova, noted that the information should be easily accessible. It goes to information about the progress made in using the funds allocated as international financial assistance, the absorption rate and eventual reasons that justify the non-utilization of the earmarked money,” stated Natalia Camburian, being quoted in a press release of the Institute for Strategic Initiatives.

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