IFC Inception Moldova Business Investment Climate Phase III
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The International Finance Corporation (IFC) of the World Bank Group has applied for funding from Sweden to implement a third phase of the Moldova Investment Climate Reform Project 2019 – 2023. The project support sustainable economic development through strengthening the capacity for export and investments and make efficient use of the Association Agreement a...
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The International Finance Corporation (IFC) of the World Bank Group has applied for funding from Sweden to implement a third phase of the Moldova Investment Climate Reform Project 2019 – 2023. The project support sustainable economic development through strengthening the capacity for export and investments and make efficient use of the Association Agreement and the Deeper and Comprehensive Free Trade Agreement (DCFTA) with the European Union. The project will work improve the design and implementation of legislation through collaboration with national state authorities and private sector business associations with the aim to improve the competitiveness of the private sector through greater alignment to the EU and other international regulations. The third phase include two interlinked components: (1) Agribusiness – opening the EU market for products of animal origin and broadening exports of horticulture products; (2) Investor protection and retention. The expected results of the project are: direct cost private sector savings of 20 M USD and an increase in export volume of 15% of agricultural products to the EU market. The support to the project has been divided into two phases with separate contribution id's: the inception phase (i.e. the present contribution id no 12688) and the implementation phase (contribution id 13823).
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Total aid 4,000,000 SEK distributed on 0 activities
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Result
Component 1 Improve Regulatory Environment for Business was completed and closed as of September 30, 2019. Following the extension, the Project continued with Component 2 Enhance Market Access with focus on Agribusiness and Component 3 Increase the level of investment protection. Component 1 (completed): - To ensure sustainability of reform, follow up on approval of performance indicators for inspection bodies by Government. Component 2: - Export Coaching Program and dialogue with ANSA continued; - Contribute to obtaining the endorsement of Dairy Sector Action Plan by authorities; - Discussions with authorities for approval of a Raw Milk Monitoring Plan - continued; - Assessment of the Central Veterinary Laboratory performed and consultations continued on next steps on its upgrade for EU compliance; - Technical specifications were drafted consulted for the integration and upgrade of laboratory management information system (LIMS) and strategic veterinary measures system (MMSV) and Registry of animals (SITA). Component 3: - Support to Economic Council continued and support to its key reforms, particularly trade and investment facilitation and opening markets group initiatives;
On September 30, 2019, the Project has finalized its Phase II (Nov 2015 - Sept 2019). The Project has been extended for Phase III till June 30, 2023, for which an Amendment no.4 to the Administration Agreement was signed with Sida for preparatory activities. While the overall project objective remained the same during Inception stage of Phase III, impact indicators were supplemented with an additional indicator on market access, and quantitative targets for compliance cost savings have been increased to reflect extension. The project will have a direct contribution to building and improved investment climate and regulatory framework in several areas: (i) regulatory streamlining in the area of business operations, permissive documents and inspections, (ii) enhancing market access through regulatory streamlining in agricultural input and output markets and opening new markets, (iii) putting in place legal and policy measures, as well as digital tools aimed at protection and retaining investments.
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