EBRD approves 2014-2017 strategy for Moldova

07.05.2014 07:16
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The EBRD Board of Directors has adopted a new strategy for Moldova which sets out the Bank’s priorities and objectives over the next three years, IPN reports.

Building on a strong history of investment in Moldova, the strategy for 2014-2017 focuses on creating an environment that supports private sector activity, promoting European standards and regional integration and developing efficient and sustainable public utilities.

Julia Otto, head of the EBRD office in Chisinau, said the Bank will continue to finance regional and municipal water supply companies, given the cooperation experience with the municipalities of Chisinau and Balti, and will look into ways to modernize district heating and solid waste management and promote public-private partnerships in the sector.

The Bank will support measures to improve the business environment, both through investment projects which help attract foreign direct investors, as well as through engaging with the Moldovan authorities to promote much-needed reforms

The Bank will invest in projects which will help Moldova develop value-added exports – especially in manufacturing and agribusiness sectors – which will be competitive in regional markets. It will also cooperate with the authorities in improving governance and transparency in the banking sector in which the EBRD implemented a number of successful projects.

As regards the assistance from which Moldova can benefit within the new strategy, Julia Otto said a figure isn’t stipulated in the strategy, but everything will depend on the viability and attractiveness of the projects that will be signed. However, in 2014 this assistance won’t be lower than last year, which is €80-90 million.

The EBRD is currently the largest institutional investor in Moldova. To date, the Bank has signed some 100 investments in the country, covering the energy, transport, agribusiness, general industry and banking sectors, for a cumulative amount of over €900 million. The EBRD is also pursuing intensive policy dialogue to tackle key transition challenges across sectors.