The Republic of Moldova starts the process of Development Finance Assessment

October 6, 2021

The Republic of Moldova starts the process of Development Finance Assessment (DFA), with the first session of the Oversight Committee for the implementation of this exercise, held on 5 October 2021. The DFA methodology was developed by UNDP and is applied in Moldova with the support of the Slovak Ministry of Finance, provided through the Slovakia - UNDP Trust Fund.

The Development Finance Assessment is an effective tool for supporting the Government in mobilizing and efficiently allocating financial resources for national development priorities and for achieving the Sustainable Development Goals.

"This well-structured process of analyzing financial flows and needs contributes to building consensus for designing holistic financing strategies to drive recovery from the pandemic crisis," said Andrea Cuzyova, UNDP Moldova's Deputy Resident Representative.

UNDP will support the Government of the Republic of Moldova on the path to post-COVID-19 recovery, so that the recovery is sustainable and inclusive, benefiting all people and affected sectors of the national economy.

"We consider that the Development Finance Assessment will be perfectly complemented with the activity of spending review, currently implemented by the Government. The government and line ministries will benefit from the expertise and solutions proposed as a result of the implementation of this instrument. The results of this exercise will be reflected in the medium-term budgetary framework", said Tatiana Ivanicichina, State Secretary of the Ministry of Finance.

"The Development Finance Assessment is the first stage of assessing the current situation, the existing framework, the gaps and deficits in the system of financing the national priorities. As a result of the implementation of the Development Finance Assessment, the entire system will be channeled towards the achievement of the Sustainable Development Goals,” said the Minister of Economy, Sergiu Gaibu. 

The Development Finance Assessment will be completed by the end of 2021. Then, a roadmap for the implementation of the integrated national financing framework will be developed, which will incorporate the results of the mapping and external assistance recommendations.

UNDP support for increasing the efficiency of public finance management in Moldova is provided as part of a regional initiative.