Coming of EBRD on national financial market increases credibility of banking sector, says Moldovan PM

Chisinau, 01 October /MOLDPRES/ – The projects of the European Bank for Reconstruction and Development (EBRD) in Moldova, which are already in progress, as well as the ones of the future, were discussed today by Prime Minister, Pavel Filip, and Director of the EBRD Financial Institutions Department, Francis Malige, the government’s communication and protocol department has reported.

The Prime Minister expressed his gratitude especially for coming of EBRD on the financial market of Moldova. "Due to the EBRD team for facilitating adhesion of Transilvania Bank to the Moldovan banking sector, as well as for the participation in the International Consortium, which intends to acquire 41 per cent of systemic shares of Moldova Agroindbank (MAIB). These actions increase the credibility of the national banking system," said Pavel Filip.

On 02 October, it will take place the tender for the sale of the MAIB share package and signing the contract with the winning firm.

Among other important projects carried out by EBRD in Moldova, there were mentioned – energy security, support for development of private sector, but also the implementation of the electronic procurement system.

Pavel Filip encouraged the EBRD to further support the agenda of the reform of the Government, which provides tangible results for citizens and national economy. "We have a good institutional relationship with the EBRD and we want to strengthen this partnership further. We take care that the money borrowed from the financial institutions is used effectively in the areas where we need it," specified PM.

EBRD Director of Finance, Francis Malige, confirmed the willingness of bank to develop cooperation with Moldova in areas of common interest, noting the importance of ensuring an attractive investment environment and strengthening the implementation capabilities of projects.

EBRD has invested over €1.1 billion in nearly 120 projects in various areas in Moldova: infrastructure, energy efficiency, banking, industry, commerce and agriculture. In 2017, the volume of EBRD financial operations in Moldova reached €130 million.