Poverty Reduction Support Credit (PRSC)

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The proposed Poverty Reduction Support Credit (PRSC) for the Republic of Moldova follows an intensification of the Government's reform efforts over the past several years and is intended to bolster and deepen those efforts. More specifically, the proposed credit aims to enhance the Government's ability to accelerate economic growth and improve the efficiency of its social programs and public administration - key elements in poverty reduction. To this end, the proposed PRSC will support selective areas of the Government's reform agenda, as outlined in the Poverty Reduction Strategy Paper (PRSP) and the European Union (EU)-Moldova action plan, thereby complementing and reinforcing other Bank Group programs in Moldova, the International Monetary Fund (IMF)-supported Poverty Reduction Growth Facility (PRGF) and other donor activities. Closely aligned with the Country Assistance Strategy (CAS), the PRSC will support the EGPRSP objectives of: Improving the Investment Climate; Improving the Efficiency and Management of Public Resources; and Strengthening Pension and Social Assistance Systems.