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).