Moldovan speaker declares for approving legislative package to reform banking system

Chisinau, 2 September /MOLDPRES/- Parliament Speaker Andrian Candu declares for approving a comprehensive legislative package of reforming the financial and banking system, in order to strengthen the sector and protect it from potential crises. The speaker discussed the concerned subject at a meeting with a delegation of the European Bank for Reconstruction and Development (EBRD), the parliament's communication and media relations department has reported.

The EBRD delegation is made up of Managing Director of Eastern Europe and the Caucasus Francis Malige, Director for Caucasus, Moldova and Belarus Bruno Balvanera and Director of EBRD Office in Moldova Julia Otto.

The speaker said that the legislative package would be elaborated by the national authorities in the field, to improve the situation in the financial and banking sector and turn it into a transparent, solid and competitive area. The legislative drafts are to be consulted with foreign development partners. Candu noted that a first step in the field had been already made by the parliament through adopting the law No 147, which provides for a string of amendments and additions to the work of the National Bank.

Candu said that a string of drafts on justice, banking sector, modernising energy sector and improving business environment would be among the priorities of the parliament's autumn session.

Andrian Candu asked the EBRD for further support in implementing structural reforms, Moldova had committed to enforce, in order to carry out the European integration and adjust the legislation to the EU acquis. The speaker thanked the Bank for projects implemented in Moldova, emphasizing the enforcing of energy and infrastructure projects, including elaboration of feasibility study for electricity interconnection with Ukraine and modernising the domestic electricity transportation network. 

Francis Malige welcomed the commitment to adopt a legislative package meant to reform the financial and banking system, noting that this was in the country's interest and would aim at attracting foreign investments in the economy of Moldova. At the same time, the official said EBRD backed the banking system reform in Moldova and would provide every support and expertise to Moldovan authorities.

EBRD represents the biggest investor in Moldova, with its overall investments exceeding 900 million euros. The 2014-2017 EBRD strategy for Moldova includes financing projects on creation of a friendly environment for developing the private sector, regional integration and efficient development of municipal enterprises.

(Editor A. Raileanu)