The EBRD Board of Governors is to approve a new assistance strategy for Moldova in April. “We intend to continue to support infrastructure development projects, especially the construction of roads and generation of energy, EBRD President Suma Chakrabarti said while in Moldova on a visit. The Bank will also finance municipal projects and projects to develop small and medium-sized companies by facilitating their access to funds and consultancy, IPN reports.

According to the EBRD official, the economic goals of Moldova, namely those to ensure a better life for its people, can be achieved by integrating the Moldovan economy into the European one, by attracting investments and developing the private sector. “The business and investment environment should be improved. Therefore, two key problems must be solved: ‘cleaning’ of the banking sector by ensuring transparency of bank ownership, and reformation of the justice system, including fighting corruption,” said Suma Chakrabarti.

He expressed his satisfaction with the steps taken by the authorities to block the right to vote of two groups of shareholders of Victoriabank, which acted concertedly, coming into possession of a 30% holding in a non-transparent way. Suma Chakrabarti also welcomed the dismissal of a number of judges who do not meet the standards and the institution of an Economic Council under the Prime Minister, which includes businessmen, representatives of the development partners, donors and of international financial organizations.

The EBRD is the largest institutional investor in Moldova. Last year it provided €130 million in assistance for 15 projects.