European Bank for Reconstruction and Development to further back economic development of Moldova

Chisinau, 7 April /MOLDPRES/- The European Bank for Reconstruction and Development (EBRD) backed and will further support economic development of Moldova. The Head of EBRD Office in Chisinau, Julia Otto, made the statement at a news briefing in the context of the 25th anniversary of bank’s foundation and the end of her mandate.

Since 1991 till now, the total investment amount offered by EBRD for carrying out 114 projects in Moldova was estimated at 1 billion 106.7 million euros, 5 per cent of the money refer to energy sector development, 11 per cent – financial sector, 11 per cent – industry and agriculture and the rest – for infrastructure.

The official also pointed out the aid provided to small and medium-sized enterprises (SME) from Moldova in order that they be competitive and prosperous. “We perform it successfully in Moldova since 2005, being funded by Sweden, Early Transition Countries Fund (ETC), EU, the EBRD Shareholder Special Fund (SSF), as well as other donor organizations. We combined over 11.2 million euros offered by donors with own funds and contributions of our clients in order to yearly help 2,200 SMEs to access financing and consultancy”, she said.

So far, over 192.4 million euros have been provided through credit lines for 14 financial institutions.

In the context, since 2009 the EBRD provided support for increasing energy efficiency of SMEs in Moldova. Also, over 140 SMEs benefitted from assistance for implementing consulting projects in the energy efficiency sector.

“In terms of dialogue on policies in 2012 we contributed to setting up Economic Council – an advisory body, which is meant to facilitate public-private dialogue at the highest decision-making level in order to promote economic development of Moldova, improve investment climate for prosperity of SMEs”, Otto also said.

(Reporter A. Mardare, editor M. Jantovan)