November 29 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Wednesday it has approved a new strategy for Moldova which will guide the bank’s investments and policy work in the country in the next five years.
"The new strategy gives a fresh impetus to our engagement in Moldova. Combining financial investment with policy engagement, the EBRD is perfectly placed to make a real impact in Moldova. Our focus is on the establishment of a sound, transparent and modern financial sector that works for the people and the companies of Moldova," Dimitri Gvindadze, head of the EBRD office in Chisinau, said in a statement.
EBRD plans to continue lending to its partner banks in Moldova to make finance available for Moldovan businesses. The EBRD will also work with strong strategic investors to restore transparency and corporate governance in the sector.
It will support the development of infrastructure for a wholesale electricity market and will fund opportunities in the renewables sector. EBRD will directly finance companies with viable business models, including export-driven foreign investors operating in free economic zones.
EBRD will also continue promoting commercialisation of public utilities and better infrastructure in the country.