Bucharest, Jul 31 (IANS): Moldova is set to receive a loan worth 37.3 million euros for budgetary support from the World Bank, the country's parliament said after ratifying the agreement on Wednesday.

The World Bank will also supply Moldova with a grant worth 5 million U.S. dollars. The loan and grant will be paid out in one installment.

The loan has a 29-year maturity and a nine-year grace period and comes with 11 conditions, which Moldova has already fulfilled, Xinhua news agency reported.

Meanwhile, under another agreement also ratified today, Moldova will receive 10.5 million dollars of non-refundable financing from the World Bank to help meet the state budget's needs.

This amount will also be disbursed in a single installment once 11 conditions are met, including amendments to the Law on Social Benefits, the Labor Code, legislation of the Energy Vulnerability Reduction Fund, and the Law on Competition. The deadline for these changes is June 30, 2026.

Both agreements, signed on July 11, support the Moldova Supporting Growth and Resilience Development Policy Operation Project.

The project aims to improve residents' access to the labor market, adjust the legal framework for social assistance, align competition and state benefit legislation with EU standards, enhance governance and competition in the energy sector, strengthen the financial system, and promote sustainable forest management and climate commitments.