News Brief: IMF Gives Final Approval of PRGF Loan for Moldova
December 21, 2000
IMF Gives Final Approval of PRGF Loan for Moldova
The International Monetary Fund's (IMF) Executive Board has given its final approval of the three-year loan under the Poverty Reduction and Growth Facility (PGRF) for Moldova in an amount equivalent to SDR 110.88 million (about US$144 million). See Press Release No. 00/72 of December 15, 2000.
The final decision by the IMF Executive Board was contingent on a decision by the World Bank Executive Board on December 19, 2000 which concluded that the interim Poverty Reduction and Strategy Paper (PRSP) provides a sound basis for development of a fully participatory PRSP and for concessional assistance by the World Bank.
Under Moldova's three-year PRGF arrangement, the IMF Executive Board decision makes available this month SDR 9.24 million (about US$12 million).