Moldovan deputy premier, EBRD President tackle economic situation, projects

Chisinau, 16 May /MOLDPRES/- European integration is a choice and a desire to change the way of economic development of the country. Deputy Prime Minister, Economics Minister Stephane Bride made the statement in his tenure of Moldova's governor to the European Bank for Reconstruction and Development (EBRD) at an annual meeting of EBRD Board of Governors, held in Tbilisi, Georgia, on 14-15 May.

According to sources in the Economics Ministry, Bride referred to the results achieved by Moldova with the EBRD support, and highlighted its role in continuing the reforms included in the Association Agenda and Free Trade Agreement with EU.

"European integration remains an absolute priority for us, which is reflected in a set of policies promoted by the Moldovan government. The fulfillment of commitments seen in the Association Agreement and Free Trade Agreement will contribute not only to trade liberalisation and removal of non-tariff barriers, but will increase investors' confidence in the economic prospects. Implementation of reforms will boost the economic growth, will develop a predictable framework for economic relations with EU and third countries", Bride noted.

Bride had a working meeting with EBRD President Suma Chakrabarti in Tbilisi. They discussed the new cooperation opportunities and development projects. Bride highlighted the need to launch programmes on support in the SMEs (Small and medium-sized enterprises), to continue implementation of projects in energy and infrastructure sectors. The officials approached the macroeconomic situation in Moldova, reforms on improving investment climate, situation in financial market and new cooperation programme with the International Monetary Fund.

For his part, Suma Chakrabarti highlighted importance of the government's involvement in settling the current problems in the financial-banking sector in order to ensure continuing the projects conducted by EBRD in Moldova and launch of new programmes. The officials agreed on organising in the nearest future of a visit by EBRD top managers to Chisinau in order to continue the talks on cooperation with the bank.

The agenda of the meeting included a plenary session of EBRD governors, meeting of team on energy issues, presentations and talks focused on promoting sustainable investments, strengthening institutions, promoting regional integration and settling global economic challenges. At the same time, a business forum was organised at the event.

EBRD has financed 110 projects since its activity in Moldova (2005), over 970 million euros being invested in the Moldovan economy. The EBRD's current portfolio represents 430 million euros, earmarked for infrastructure (65 per cent), financial institutions (17 per cent), industry, trade and agribusiness (12 per cent) and energy sector (6 per cent).

 (Reporter A. Mardare, editor M. Jantovan)