ORDER OF THE GOVERNMENT OF THE REPUBLIC OF MOLDOVA

of September 29, 2022 No. 684

About approval of the Regulations on projects of the state capital investments

Based on article 41 of the Law No. 181/2014 on public finance and budget and tax responsibility (The official monitor of the Republic of Moldova, 2014, Art. No. 223-230, 519), with subsequent changes, DECIDES: the Government

1. Approve Regulations on projects of the state capital investments it (is applied).

2. Recommend to local authorities of the public power to apply requirements of the specified Provision in process of management of the projects of the state capital investments which are completely financed by means of the local budget.

3. To the central bodies of the public power which competence the development fund management enters to bring regulations in the respective sphere into accord with this resolution.

3-1. To the Ministry of Finance to develop and approve the Instruction for project evaluation of the state capital investments.

4. To impose control over the implementation of this resolution on the Ministry of Finance.

5. Declare invalid the Order of the Government No. 1029/2013 about the state capital investments (The official monitor of the Republic of Moldova, 2013, No. 311, the Art. 1157), with subsequent changes.

6. This resolution becomes effective from the date of publication in the Official monitor of the Republic of Moldova.

Approved by the Order of the Government of the Republic of Moldova of September 29, 2022 No. 684

Regulations on projects of the state capital investments

I. General provisions

1. The regulations on projects of the state capital investments (further - the Provision) establish the mechanism of identification, assessment, planning, approval, realization, monitoring and project management of the state capital investments financed from the government budget.

2. The purpose of the Provision is providing the regulatory base concerning national procedures of project management of the state capital investments, acceptable for financing of the government budget.

3. Requirements of the Provision extend to all projects of the state capital investments financed by means of the government budget, including by external sources, funds of development and also to fees of the government budget in projects implementation at the expense of means of local budgets.

4. In this Provision the following concepts are used:

the state capital investments - the budgeted expenses intended for creation of new fixed assets including due to construction, and also reconstruction, expansion, restoration of the existing fixed assets;

the project of the capital investments - the costs connected with creation of asset or group of the assets having general purpose and accurately certain results which will be achieved at the scheduled time which realization is result: creation of new fixed assets or reconstruction, expansion, restoration of the existing fixed assets;

cycle of the project of the capital investments - the sequence of stages including: identification and provisional estimate; preparation, feasibility statement; consideration and determination of the acceptability; choice and approval; realization and monitoring; final assessment and assessment after realization;

the analysis of "costs benefit" - the analytical tool of the feasibility statement which estimates and compares costs with social and economic and pecuniary benefits of the project of the capital investments;

the analysis of costs efficiency - the analytical tool of the feasibility statement which estimates and compares costs of alternative options, assuming that benefits from the project are identical;

efficiency - consequences of use of resources for achievement of the highest level of results;

effectiveness - achievement of the expected results;

the project documentation and cost determination - set of the graphical and textual records including technical and economic decisions for goal achievement of the capital investments necessary for reasons and project implementation;

funds of development - the financial resources which are annually allocated from the government budget for the purpose of projects implementation of development of infrastructure: National fund of regional and local development, National fund of the environment, Fund of energy efficiency, Road fund, National fund of development of agricultural industry and the rural zone, and also other programs which means are used for projects of the state capital investments;

achievements of the project of the capital investments - the intermediate or final project deliverables estimated by means of certain indicators of quantity (product), qualities (result) and efficiency;

the project in implementation process - the project of the capital investments on which the decision on its beginning is made, financial resources for its realization are provided and the design estimates are developed;

ratio the price quality - the analytical indicator determining whether the project objective of the capital investments in case of reasonable costs is achieved and resources of the project are used economically, rationally and productively;

the feasibility statement - the document based on which the project documentation which includes and provides information on multidimensional impact of the project, and also on economic feasibility and financial stability of the project of the state capital investments is developed, is analyzed, proved and offered at least two various technical and economic options, the optimal technical and economic variant for goal achievement of the capital investments is recommended in a proved and documentary confirmed way.

II. Basic principles of project management of the state capital investments

5. Expenses on the capital investments financed from the government budget are planned, performed and reflected in the report as part of the budget process with observance of the budget procedures established by the legislation in the field of public finance.

6. The projects of the state capital investments financed from the government budget are planned, affirm and controlled according to the following basic principles:

1) the principle of strategic planning - according to which project proposals are subject to process of establishment of priorities in respect of influence on priorities the politician and the purposes included in documents on planning for the medium-term period;

2) the principle of effectiveness - according to which allocation of resources on projects and reports on their realization will be based on the predicted, intermediate and resulting effects;

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