EBRD Orientates its money to CIS and Asia

Starting with 2010, the European Bank for Reconstruction and Development will reorient the investments from those eight countries that joined EU recently to the poorer countries of Europe and Asia in order to support them in the transition process to the free market economy. The new investment strategy of EBRD has as targets the poorest countries included in the Commonwealth of Independent States. One of the target states from the Eastern Europe is Moldova, also will be included countries from Caucuses and Central Asia, writes the foreign press referring to a decision of the EBRD stockholders. The investments have the goal to develop economies of the states, to reduce unemployment and to support the transition process to a free market economy. EBRD decided it will stop the investments in those eight countries of the central Europe until 2010 as a result of their significant economic progress and stabilization of the democracy. “Our decision represents a certification of the success of these countries”, declared the president of EBRD, Jean Lemierre. Those eight countries that joined EU in 2004 are Poland, Hungary, the Czech Republic, Slovakia, Estonia, Lithuania and Latvia. Although, at start the stockholders had different opinions regarding the redirection of the investments, but after analyzing the situation they concluded that the economies of the mentioned eight countries made important progresses and the transition process to a free market economy will end until 2010. Recently the president of “Mobiasbanca” bank, Nicolae Dorin, announced that the Moldovan bank negotiates with EBRD a credit line for mortgage crediting in the Republic of Moldova. “We are close to signing an agreement with EBRD and I think the event will take place in June”, declared Dorin. According to him, the credit line could amount to 5 million USD. Previously the representatives of the EBRD office in Chisinau announced that the bank is available to offer sources for a long- term period for developing the mortgage crediting in the Republic of Moldova