EBRD reaffirms support for Moldova as Bank’s regional leader meets Prime Minister Recean
Matteo Patrone, EBRD Managing Director, Eastern Europe and the Caucasus, is in Chisinau
EBRD is Moldova’s biggest institutional investor
The European Bank for Reconstruction and Development (EBRD)’s Managing Director for Eastern Europe and the Caucasus, Matteo Patrone, reaffirmed the Bank’s support for Moldova during his first meeting with Dorin Recean since he was appointed Moldova’s Prime Minister in February.
“At a time of uncertainty for Moldova, the EBRD reaffirms its commitment to support the country, its economic resilience and its European aspirations in the clearest and strongest possible way,” said Mr Patrone, who is meeting ministers and business leaders during his two-day visit. “The EBRD is confident that Moldova will continue on its reform path under Prime Minister Recean.”
Mr Patrone’s visit comes a month after the new government, which continues the pro-reform thrust of its predecessor, was sworn in. Among new ministers he meets in Chisinau are Victor Parlicov, who heads a new Energy Ministry, Infrastructure Minister Liliana Dabija, Economy Minister Dumitru Alaiba (the EBRD’s governor), and Secretary-General Artur Mija.
He also meets Moldova’s foreign minister, Nicu Popescu, National Bank of Moldova governor Octavian Armasu (the EBRD’s alternate governor), representatives of international financial institutions, leaders of Moldovan banks, the General Director of Danube Logistics Mathias von Tucher, and development partners.
Mr Patrone’s trip to Moldova will be followed on 27 March by a visit from the EBRD’s Vice-President for Policy and Partnerships, Mark Bowman.
The EBRD, Moldova’s largest institutional investor and present in the country for the past three decades, has invested €2 billion in the country, much of it to support infrastructure as well as stabilise the banking sector.
Its strategic priorities for Moldova are strengthening energy resilience and security and promoting a greener economy; supporting competitive and inclusive private sector development, more resilient financial infrastructure and improved governance; and improving inclusive infrastructure delivery to support growth and enhance connectivity and trade.
Moldova, a candidate EU member, is one of the countries neighbouring Ukraine that has benefitted from strong support of the EBRD in 2022 to buffer the region’s economy against the impacts of the war.
One key investment was a €300 million loan last June to boost energy security through strategic gas acquisitions. With record investment totalling over €500 million in 2022, focusing on energy security and the private sector, the EBRD has shown its unwavering commitment to the country in difficult circumstances.
Together with the European Commission and other international partners, the EBRD is also investing in the EU-Ukraine Solidarity Lanes, strengthening key regional transport routes and strengthening the trade links connecting Ukraine and Moldova with the EU. The Bank is also actively contributing to the multilateral Moldova Support Platform (MSP), providing concrete political, financial and technical assistance to help it overcome the challenges it faces, particularly those resulting from the war.