EBRD develops cooperation with local authorities in Moldova

The European Bank for Reconstruction and Development (EBRD) intends to extend cooperation with other local authorities of Moldova, besides the municipality of Chisinau, the Bank’s President Thomas Mirow said in a news conference held at the end of his visit to Moldova, Info-Prim Neo reports. The EBRD President said a mission of the Bank will go to Balti to discuss a project to modernize the urban transport infrastructure, similar to the one that will be implemented in the municipality of Chisinau, with the municipal administration. The EBRD will provide a loan of €11.7 million for the project that will be carried out in Chisinau. The lending agreement was signed in Chisinau on December 2. “Our activity is aimed at improving the daily life of the people,” said Thomas Mirow. He mentioned among the important factors that help successfully implement such projects the transparent organization of the public procurement process and the improvement of the budgetary discipline of the partner municipalities. Summing up the meetings he had with Prime Minister Vlad Fila and other officials in Chisinau, Thomas Mirow said he reached the conclusion that Moldova needs not only financing from the EBRD, but also the Bank’s experience and abilities. “We will thus offer you assistance in the activities aimed at coming closer to the EU – adjustment of the legislation and training of judges. We will lay emphasis on such programs as TAM and BAS, which focus on the modification of the company management formula and the role of consultancy in business. These programs will be aimed at the SMEs so as to help them increase competitiveness. We will continue to invest in improving energy efficiency, in agriculture and in the development of the financial market,” said the EBRD President. According to Thomas Mirow, the EBRD will maintain the volume of financing in Moldova at the level of the last two years - €100 million annually for implementing projects in the public and private sectors. A precondition for increasing the financing assistance is to identify ‘good’ projects, eligible for financing. The EBRD President also said that the Bank follows attentively the privatization process in Moldova, saying this reform shouldn’t be implemented for the sake of privatization. As to the banking sector, Thomas Mirow said that despite the sad events that marked the year, this sector has enough liquidity and there are no reasons for concern. In 2012, it will be 20 years of the establishment of relations between Moldova and the EBRD. So far the Bank has invested about €600 million in over 80 projects implemented in different sectors of the Moldovan economy, channeling additionally investments of over €400 million.