Moldovan Prime Minister Pavel Filip has met the President of the European Bank for Reconstruction and Development (EBRD), Suma Chakrabarti, who was on a working visit to Republic of Moldova last week. Both sides hailed the good partnership relations between the Republic of Moldova and the EBRD.
The Prime Minister expressed gratitude for the continued support provided by the EBRD in key areas of cooperation, such as economic and social development, science and innovation, rehabilitation of infrastructure, support for integration into European energy markets and diversification of energy sources.
At the same time, Pavel Filip appreciated the EBRD's support to the Economic Council, which is an efficient platform for dialogue between the Government and the business community, contributing to the improvement of the regulatory framework for entrepreneurial activity. Among the reform projects developed on this platform, are a streamlining of regulation, optimisation of reporting, modification of the Labour Code, as well as other important initiatives for an improved business environment.
Pavel Filip also stressed the importance of the EBRD's assistance to improve the country's energy security in line with the commitments made under the Energy Community Treaty and the EU-Moldova Association Agreement.
In turn, the President of the EBRD welcomed the government's efforts to improve the business environment, reduce bureaucracy and ensure stability in the banking sector, which increases the country's attractiveness to investors. Chakrabarti confirmed the EBRD's willingness to further support the Republic of Moldova in implementing reforms aimed at securing sustainable economic development. Among the priority directions of the EBRD Strategy for the Republic of Moldova for the years 2017-2020 are the restructuring of the banking sector, the improvement of energy security, the support of private enterprises, the promotion of commercial utilities and the improvement of infrastructure.
Last year, the EBRD granted the Republic of Moldova financial assistance worth €131 million for the implementation of 10 projects, including the financing of the construction of the Ungheni-Chisinau gas pipeline, supporting the banking sector, financing of energy efficient measures.
The EBRD is a key partner of the EU4Business initiative, implementing a number of EU-funded projects to support SMEs in Moldova, including improved access to finance and advisory services for SMEs.