WORLD BANK HELPS MOLDOVA TO FACILITATE TRADE AND TRANSPORT WITHIN THE STABILITY PACT
Contacts
:
Washington:
Miriam Van Dyck (202) 458-2931
mvandyck@worldbank.org
Chisinau
: Slavian Gutu (3732) 232737
sgutu@worldbank.org
WASHINGTON, June 10, 2003--
The World Bank’s Board of Executive Directors today approved a US$7.21 million equivalent IDA credit for the
Trade and Transport Facilitation in Southeast Europe (TTFSE) Project in Moldova,
with a major focus on reducing non-tariff costs to trade and transport, increasing revenue and compliance, and reducing smuggling and corruption at border crossings.
"Through this project Moldova is joining the TTFSE Program of eight countries in Southeast Europe, which aims to strengthen their mutual cooperation to foster trade in the region,”
said
Anca Dumitrescu, the World Bank Task Team Leader of the Project
.
“ The project will support the efforts of the government to modernize its border agencies, in particular, the Customs Administration, in line with EU practice. It is the first, and hopefully not last, project which has materialized on the list of support operations to Moldova within the Stability Pact.”
The project will specifically strengthen customs institutional capacity; modernize and integrate customs information systems for border processing and clearance of shipments; develop a transit control system; upgrade the capacity and effectiveness of existing border points; improve mechanisms of interaction and cooperation between border control agencies and the trading community; disseminate information and providing training to the trading community (private sector); and implemente, at pilot sites, an integrated set of new customs procedures, information technology, human resource management techniques, and cooperation mechanisms for agencies at border crossings.
"Cooperation on trade and transport facilitation in South-East Europe is among the priorities of the government of the Republic of Moldova,”
said
Nicolae Vilcu, Director General of the Moldovan Customs Department.
“
The successful implementation of this project will facilitate foreign trade and transport in the region and will consequently lead to the country's private sector development and economic growth. The establishment of a modern customs information system, with experience brought by best world practice, will have a significant impact on increasing both the trade volume and the budget revenues.”
The total project amount is $9.69 million equivalent, of which US$7.21 million is IDA funding; $1.3 million is grant co-financing from the US Government, and $1.19 million is counterpart funding from the Moldovan Government.
The World Bank credit will be disbursed on standard IDA terms and will be repayable in 40 years, including a 10-year grace period. Since Moldova joined the World Bank in 1992, Bank commitments to the country total US$504.3 million for 22 projects.
For more information on the World Bank’s work in Moldova, visit
http://lnweb18.worldbank.org/eca/moldovaweb.nsf
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