Moldovan parliament speaker meets top European bank's managing director

Chisinau, 15 November /MOLDPRES/ - The portfolio of projects financed by the European Bank for Reconstruction and Development (EBRD) in Moldova has been discussed at a meeting of Parliament Speaker Andrian Candu and EBRD Managing Director for Eastern Europe and the Caucasus Francis Malige, the parliament’s communication and public relations department reported.  

Andrian Candu noted that the parliament would continue making efforts to strengthen Moldova’s financial and banking sector, consolidate the National Bank’s institutional capacities and improve the legislative framework in the field.  

For his part, Managing Director for Eastern Europe and the Caucasus Francis Malige welcomed the fact that the parliament had lately approved a string of legislative acts meant to improve the legislation in the financial and banking sector and attract foreign investments in this field. In the context, the official appreciated the fact that Transilvania Bank from Romania was set to buy a block of stocks from Victoriabank’s registered share capital. It is for the first time since 2007 that a foreign banking investor enters Moldova’s market. Respectively, Transilvania Bank and EBRD will hold together the controlling stake of Victoriabank.   

So far, EBRD has financed 116 projects worth more than one billion euros in Moldova. The present portfolio of EBRD is of 478 million euros, of which 69 per cent is earmarked for infrastructure, 13 per cent – for the energy sector, 10 per cent - for industry, trade and agro-business, 8 per cent – for financial institutions.  

EBRD is on top of the first five development partners of Moldova.