World Bank approves lending strategy for Moldova

WASHINGTON Jan 29 (Reuters) - The World Bank approved on Thursday a new lending strategy for Moldova, which will see between $45 million to $50 million in loans a year over the next four years.

The new country partnership strategy for 2009 to 2012 will focus on environmental projects, improving economic competitiveness through business reforms and ensuring transparency in the public sector.

In addition, the loans will support investments to modernize infrastructure in Moldova, a country of about 4 million wedged between Romania and Ukraine.

"In a challenging global environment, Moldova has set the course to modernize its economy and build a prosperous European future," said Melanie Marlett, World Bank Country manager for Moldova.

"The new country partnership strategy aims to build on our previous successes and provides a flexible framework to help Moldova weather global risks." (Reporting by Lesley Wroughton; Editing by Andre Grenon)