Moldova to receive almost 80 mln euros in budget support from Canada

CHISINAU. Sept 23 (Interfax) - Canada will provide 120 million Canadian dollars, or around 79.7 million euros, in budget support to Moldova, the Moldovan parliament's press service said.

The Moldovan parliament ratified the corresponding agreement. The loan is granted for ten years with a three-year grace period.

The funds are allocated to fund the needs of the state budget and the World Bank's proposed program, Growth and Resilience Development Policy Operation for Moldova, it said. In particular, they will be used to promote sustainable economic growth by supporting the private sector, and support resilience to climate change and the transition to green energy.

The Moldovan foreign public debt stood at $3.526 billion as of the end of June this year, having dropped 4.6% in H1. The International Fund for Agricultural Development (IFAD, $1.05 billion at the end of June), the WB Group's International Development Association ($796.7 million), the European Investment Bank ($416.1 million), the European Union ($283.6 million), the European Bank for Reconstruction and Development ($260.6 million), and the World Bank ($251.8 million) are the main creditors in the country's foreign public debt.