PEFA Assessment update for Moldova (2008-2010)

Ref. ADE: A422-173

Description: Within the framework of the European Neighborhood Policy, in October 2010, the EU co-legislators adopted a decision to grant Moldova macro-financial assistance of €90 million. A set of indicators for public finance and financial sectors, against which the progress will be measured and payments will be made, was agreed under the mentioned programme. The assistance is to be disbursed in three tranches in 2010 and 2011: first tranche of EUR 40 million disbursed at the end of December 2010, the second and third tranches, of EUR 20 million and EUR 30 million respectively, should be disbursed by the end of 2011. The global objective was then to draft a comprehensive Public Financial Management– Performance Report (PFM-PR) prepared according to the PEFA methodology (and updates to it), so as to provide a repeated analysis of the overall performance of the PFM systems of the beneficiary country as well as an updated situation that permits the measuring over time of changes in performance.