The Republic of Moldova needs to develop its financial market. There is currently a low level of financial intermediation, which requires solutions and actions from both the banking and entrepreneurial sectors. The National Bank of Moldova is at the center of these discussions to identify solutions to develop Moldova’s financial market, NBM governor Anca Dragu stated in a meeting with a World Bank delegation led by Antonella Bassani, Vice-President for Europe and Central Asia, who is in Chisinau, IPN reports.

Anca Dragu said that the NBM is showing a keen interest in the development of the Investment Guarantee Fund and guarantee modalities aimed at supporting the maintenance and attraction of investments to Moldova.

The technical assistance provided to the NBM by the World Bank was a special topic during the meeting. The support for the development of a sustainable financing framework for the financial sector of the Republic of Moldova, improvement of the legal framework on bank resolution and the working out of the National Strategy for Financial Inclusion were mentioned. The discussions also focused on the macroeconomic situation, development of the capital market in the Republic of Moldova, improvement of the insurance sector, attraction of investors and promotion of research activity within the central bank of Moldova.

The meeting took place on the sidelines of the Constituency Meeting of the International Monetary Fund and the World Bank which will take place this week in Chisinau.