OREANDA-NEWS. March 24, 2014. This is provided for by a grant agreement between the government of Moldova, the International Bank for Reconstruction and Development and the International Development Association signed in Chisinau on March 4 by Vice-premier, Minister of Economy of Moldova Valeriu Lazar and the WB country manager for Moldova Abdoulaye Seck.

The money is designed for preparation of the Competitiveness Enhancement Project II to be funded under the Multi-Donor Programmatic Trust Fund for Europe and Central Asia Region Capacity Development. The project consists of 4 components aimed at consolidation of the regulatory reform potential, SME competitiveness, fiscal instruments, fiscal administration, etc. According to Valeriu Lazar, expectations from this partnership are extremely high and the work should be continued to gain access to the grant funds and enhance competitiveness of Moldova’s enterprises, which will entail opening of new financial facilities and access to new markets.

The Economy Ministry is supposed to establish the interdepartmental supervision board responsible for control, coordination and strategic development of the project. PAC II, with the total budget of USD45 million, aims to enhance competitiveness of Moldovan enterprises, especially small and medium-sized ones, through the consolidation of their ties with market outlets, facilitation of their access to mid- and long-term lending and improvement of the business environment. Main components of the program are opening a credit line for the private sector, supporting the regulatory reform, developing institutional abilities of the Organization of Investment and Export Promotion (MIEPO) and the Organization for the SME Sector Development (ODIMM), delivering advisory service, etc.