By launching of the first IFAD-funded Project in Moldova, i.e. the Rural Finance and Small Enterprise Development Project, the Government established by the Government Decision no. 980 dd. 25.09.2000 the Project Implementation Unit (PIU) housed in the Ministry of Agriculture and Food Industry (MAFI) with the full authority and responsibility for the Project management and coordination.
At the same time, by the afore-referenced Decision the Government created also the Project Steering Committee (PSC) – the supreme governing and supervising body thereof. The PSC includes: the Minister of MAFI, being ex officio chairperson of the PSC. Other members include representatives of MAFI, MoF, the Ministry of Economy and Trade, the National Bank of Moldova and Parliament’s Agricultural Committee.
Consequently, with the start-up of new IFAD-financed projects and programmes, the Government by its Decision no. 1229 dd. 29.11.2005 has re-organised the PIU into the Consolidated Programmes Implementation Unit (CPIU IFAD), while for the sake of more efficient implementation of the overall IFAD-funded programmes the PCS has been transformed into the IFAD Programmes Steering Committee (IPSC).
The responsibilities of the IFAD Programmes Steering Committee include but are not limited to:
- provide policy and general principles guidance;
- revision and approval of CPIU’s annual progress reports and proposed Annual Work Plans and budget(s);
- set interest rates in line with prevailing market interest rates and as proposed by MoF;
- approve Participating Financial Institutions (PFIs) participation;
- review and adjust the value Chain Multiplier Index threshold (VCMI) and the Objective ranking System (ORS);
- ensure coordination between all IFAD-funded projects/programmes and other ongoing development projects/programmes;
- mobilization of additional recourses to ensure CPIU IFAD activity.
- The IPSC meets twice annually, and on an ad hoc basis as deemed necessary by the Chairperson.