Moldova will borrow 160 million dollars from the International Monetary Fund

Moldova will borrow 160 million dollars from the International Monetary Fund (IMF). The Resilience and Sustainability Financing Facility will provide the funds.

Parliament approved the external state borrowing. The financial resources will be used for “the needs of the state budget,” according to the press service of the legislature.

“The Resilience and Sustainability Financing Mechanism program will support Moldova’s efforts to increase resilience to climate shocks, implement reforms in the energy sector, and ensure the mobilization of sustainable financing,” the parliament representatives note.

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The state will have to pay back the money in 20 years. To receive the funding, the government will implement 12 reforms that aim to mitigate the impacts of climate change.