EBRD to provide €300,000 for founding Economic Council in Moldova


The European Bank for Reconstruction and Development (EBRD) will support the creation of the Economic Council in Moldova by a grant of €300,000. In a news conference, EBRD Executive Director for Turkey, Eastern Europe, Caucasus and Central Asia Olivier Descamps said the institution will provide money to support the Council’s activities.

Prime Minister Iurie Leanca said the Council will be a consultative body that will aim to improve the business environment and to simplify procedures at the level of state institutions. It will also remove the constraints reported by entrepreneurs and will implement new e-government instruments.

“It is a very useful platform that proved its viability in other countries” said Iurie Leanca, adding that the state must be a reliable, honest and predictable partner of the entrepreneurs that meet the same criteria.

The Economic Council will consist of representatives of state institutions, associations of businessmen and investors, donors that support the development of the private sector in Moldova and of civil society.

The officials also referred to the new EBRD strategy for Moldova for the next three years. Olivier Descamps said the ensuring of transparency in the financial-banking sector, especially as regards ownership of bank shares, must become one of the priorities of the Moldovan authorities, alongside the justice sector reform.

Starting with 1994, the EBRD has financed projects to develop the infrastructure, transport and financial-banking sector of Moldova to the value of about €900 million.