A new cooperation initiative between the Government of Moldova and the European Bank for Reconstruction and Development (EBRD) has been launched. A memorandum of understanding in this respect was signed in Chisinau by Prime Minister Iurie Leanca, in the presence of the head of the EBRD Office in Moldova Julia Otto, on October 22. On behalf of the EBRD, the document was signed by the EBRD President Suma Chakrabarti in London, IPN reports.
Iurie Leanca said that Moldova took a number of steps towards real democracy that is based on the principles of market economy, but a lot of work is yet to be done. “We need more transparency and must hasten the reforms so as to create a better business climate for the businesspeople, the investors to be able to create more jobs, to boost exports and to help improve the living conditions in Moldova,” he stated.
Under the memorandum, the two parties will join efforts to enhance the work of the EBRD-backed Economic Council to the Prime Minister; support the establishment of an independent mechanism to address concerns and complaints by businesses about instances of ill-treatment or unfair competition; develop alternative dispute resolution as well as arbitration procedures; and create a single, transparent registry of shares of Moldovan banks.
The EBRD will also provide additional technical assistance in areas such as public procurement and judicial capacity building. The parties will furthermore work together to improve corporate governance in state-owned enterprises, strengthen the Competition Council and enhance the capacity of Moldovan business associations.
For her part, Julia Otto said there will be addressed problems related to transparency and correctness. Equitable competition conditions will be created for the Moldovan companies. “We are glad to have a dialogue with the Government on economic and environmental policies,” she stated.
The EBRD is the largest institutional investor in Moldova. The Bank focuses on supporting private sector activity, promoting European standards and regional integration and developing efficient and sustainable public utilities. To date, the EBRD has invested some €900 million in over 100 projects.
