The presidents of the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) will be in Chisinau from February 5 to 7 for a joint official visit. The event highlights the shared commitment of the two institutions to supporting Moldova’s economic development and reform programme, IPN reports, quoting a press release from the EBRD news center.
This is the first joint visit of the presidents of both institutions to a country of operations. In their discussions with the Moldovan President, Prime Minister and senior officials, EBRD President Sir Suma Chakrabarti and EIB President Werner Hoyer will focus on the country’s economic priorities and the contribution that the EBRD and EIB can make to Moldova’s transition.
“We look forward to continuing our cooperation with the EIB in Moldova and working together with Moldova to achieve greater economic integration and harmonization with EU standards. The EBRD has a strong track record of promoting transition in the country through its investments, technical assistance and policy dialogue. and we remain committed to supporting the people of Moldova in their ambition for a European future as well as the authorities in driving forward the country’s reform program,” said EBRD President Chakrabarti.
EIB President Werner Hoyer said that Moldova is a key country for the EIB’s and EBRD’s shared and complementary engagement in the region, where both institutions have demonstrated a strong commitment to helping modernize crucial infrastructure, create jobs and increase economic competitiveness in recent years. “We look forward to continuing our joint engagement with the Moldovan authorities to support further investment in priority sectors. Our close cooperation with the European Commission in Moldova and the valuable contribution of the Neighborhood Investment Facility enable investment that improves crucial infrastructure in the country”.
During the visit, the EIB and EBRD leaders will meet with President Nicolae Timofti, Prime Minister Iurie Leanca, Minister of Economy Valeriu Lazar, Chairman of Parliament Igor Corman, National Bank Governor Dorin Dragutanu and Mayor of Chisinau Dorin Chirtoaca.
The EBRD President will also have discussions with partners from the private sector and civil society. The EIB President will use the visit to announce significant new cooperation to support development of the agricultural sector in Moldova.
During the visit, the two Presidents will sign an agreement on the latest joint EBRD-EIB project in the country, a loan to support the modernization of Chisinau’s water and wastewater infrastructure.
Since 2007, the EIB and the EBRD have jointly financed on an equal basis nine projects worth a total of €674 million. These have supported investment in diverse sectors including road rehabilitation, public transport, power transmission network rehabilitation modernization, as well as in water services.
Since it started operations in Moldova, the EBRD has invested almost €900 million in the country, in over 100 investments covering the energy, transport, agribusiness, general industry and banking sectors.
Moldova is an important partner for the EIB among Eastern Partnership countries, with the highest EIB lending volume per capita. Since the start of EIB lending in Moldova in 2007 more than €450 million has been provided in long-term loans including support for improved roads and public transport, water, energy and agriculture.
