The Republic of Moldova is at a stage when many good things start to occur, especially at economic level. Compared with 2015-2016, when the banking sector was in a crisis, significant progress has been made now and many things have improved, President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti stated in a news conference in Chisinau, IPN reports.
According to the EBRD President, even if the state of affairs changed to the better in the banking sector, a lot is yet to be done. He came to Chisinau to deliver the message that the reforms that need to be continued will enjoy the partners’ support. Owing to the done reforms and made progress, the EBRD allocated €130 million to Moldova within ten investment projects last year.
Suma Chakrabarti called on the authorities to fulfill the commitments assumed before the IMF and other development partners, to continue restructuring the banking sector and to strengthen the capacities of the business community. He noted that the coming of Banca Transilvania to the Moldovan market by purchasing shares in Victoriabank is the greatest accomplishment for the banking system. “This is a major step towards the modernization of the whole banking system. The EBRD will restart lending through Victoriabank and other banks with which we worked until now,” stated Suma Chakrabarti.
Among the reforms that should be continued, the EBRD President mentioned the solving of the problem of non-transparent ownership structure at two large banks in Moldova, which are now under the supervision of the National Bank. He called upon the Government to step up measures to implement infrastructure projects, noting that many of the resources allocated by the EBRD wait to be disbursed.
