Senior EBRD delegation to visit Moldova

A senior delegation from the European Bank for Reconstruction and Development (EBRD), led by Olivier Descamps, the Managing Director for Turkey, Eastern Europe, the Caucasus and Central Asia will visit Moldova from 22 to 24 July 2013. Mr Descamps will be joined by Bruno Balvanera, the Director for Caucasus, Moldova and Belarus.

The EBRD delegation will meet top Moldovan officials, including President Nicolae Timofti, Prime Minister Iurie Leancă, Economy Minister Valeriu Lazăr and Governor of the National Bank Dorin Drăguțanu. They will also hold talks with foreign diplomats, investors, business associations and high level representatives of the Bank’s existing and potential clients.

During the visit, Mr Descamps and Mr Leancă will jointly announce the creation of the Economic Council to Prime Minister. The advisory body will be chaired by the Prime Minister and will facilitate dialogue between the business community and policy-makers to create a supportive business environment.

Speaking ahead of his visit Mr Descamps said, “Moldova needs job-generating, and more local and foreign investments to sustain economic growth. A favourable and predictable investment climate, which includes transparent ownership structures and respect for the rule of law, will catalyse investment. The EBRD stands ready to support the Moldovan authorities with guidance, expertise and funds, in their efforts to create better conditions for doing business in the country.”

This visit comes ahead of the EBRD’s planned review of its strategy for Moldova for the next three years and highlights the Bank’s strong commitment to boosting Moldova’s reform agenda, particularly in addressing corruption and providing an open and stable legal environment for businesses and development.

The EBRD is one of the largest investors in Moldova. Since the start of its operations in 1994 the Bank has signed 100 investment projects in the country across the energy, transport, agribusiness, general industry and banking sectors, for a cumulative €897 million. The EBRD has also pursued an intensive policy dialogue to tackle key transition challenges – in transport, municipal infrastructure, energy and financial sectors.

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