WASHINGTON, February 16, 2018 – Moldova’s education system will benefit from continued implementation of vital reforms, thanks to US$ 10 million in Additional Financing for the Education Reform Project, approved today by the World Bank’s Board of Executive Directors.
Improving the quality, relevance and efficiency of Moldova’s education system is a priority for the World Bank Group in its support to the country’s economic growth and development. A better educated workforce will help create jobs, foster a thriving business environment, and attract investments which, in turn, will raise living standards and the quality of life of citizens.
“One of our biggest concerns is the mismatch between labor market demand and the current training offered by Moldova’s educational system,” said Anna Akhalkatsi, World Bank Country Manager for Moldova. “Skills development is central to our partnership with Moldova, as we seek to help Moldovan’s acquire the knowledge and skills they need to find good jobs at home, so that they are not forced to leave their families in search of a better life abroad.”
The Additional Financing will help fund the Moldovan government’s efforts in continuing to improve the quality and efficiency of primary and general secondary education. A considerable number of Moldovan students, teachers and school managers will benefit from expanded training activities, further provision of science laboratories and ICT equipment, as well as training for teaching support staff to promote inclusive education for students with special needs and/or disabilities.
The Education Reform Project addresses Moldova’s priorities for poverty reduction and shared prosperity, identified by the World Bank’s 2016 Systematic Country Diagnostic for Moldova, and is aligned with the objectives of country’s National Development Strategy – Moldova 2020.
Since Moldova joined the World Bank in 1992, over US$ 1 billion has been allocated to more than 60 operations in the country. Currently, the World Bank portfolio includes 9 active projects with a total commitment of US$ 341.5 million. Areas of support include regulatory reform and business development, modernization of government services, tax administration, education, roads, healthcare, agriculture, climate adaptation, and energy.
The IFC’s committed portfolio in Moldova is US$ 53.8 million (US$ 50.9 million outstanding). Its committed portfolio consists of 95% loans and 5% equity. The Multilateral Investment Guarantee Agency has provided guarantees totaling US$ 95 million. Both institutions are members of the World Bank Group.