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Saturday, August 19, 2017

EBRD committed to Moldova as country moves towards greater regional integration

The EBRD recently said that it is committed to helping Moldova as it prepares to sign an Association Agreement with the European Union that includes creating Deep and Comprehensive free Trade Areas (DCFTA).

"The European Bank for Reconstruction and Development stands ready to support Moldovan companies and foreign investors in Moldova as the country moves towards even greater regional integration," EBRD Vice President for Policy Andras Simor said on Thursday during his visit to Chisinau for an EU-led conference.

DCFTAs provide for improved trade with the EU, better investment opportunities and new reforms, the EBRD said.

"With the DCFTA to be signed in two weeks, Moldova will become one of the few countries with access to two large and important markets: the EU and the CIS," Simor said. "The bank is currently working closely with the EU and the European Investment Bank to help small and medium-sized enterprises adjust to a new regulatory environment and seize the new trade opportunities to the fullest."

The bank has already invested approximately $1 billion in more than 100 projects in the energy, transport, agribusiness, industry and banking sectors, making it the largest foreign investor in the country.

Simor said that in addition to financial help, the EBRD will offer advice, expertise and support for reforms.

"We welcome the country's commitment to taking the necessary steps to become a successful open-market economy based on the rule of law," Simor said. "Moldova can harvest the benefits of regional economic integration only if the government moves decisively to implement its ambitious reform agenda."