The EBRD will continue to invest in Moldova’s key sectors within its new Strategy for Moldova for 2023-2028.
President of the European Bank for Reconstruction and Development, Odile Renaud-Basso, stated this, in an interview with TVR Moldova, noting that, at the same time, the exact amount of investments planned for this period is still unknown, as investments will be made mainly within specific projects to be defined and approved later. Odile Renaud-Basso said that the EBRD will continue investing in Moldova’s key sectors, in infrastructure, in the private sector, in the development of the "green transition" to improve energy efficiency and energy security. The EBRD head recalled that in recent years, the bank has significantly expanded its activity in Moldova, and its investments in Moldova exceeded half a billion euros last year, reaching 525 million euros in 2022. The EBRD is a major institutional investor in Moldova, and in general, since the beginning of its activity in the country, the bank has invested more than 2 billion euros in 166 projects in the financial, agri-industrial, energy, infrastructure and production sectors. Odile Renaud-Basso said that this year, the EBRD's financing for Moldova will exceed 200 million euros. "We hope to maintain a high volume of investments in Moldova in the future, but this already depends on the implementation of concrete projects," she said. The EBRD President recalled that out of more than 500 million euros of the bank's investments last year, 300 million euros were loans for the purchase of natural gas to ensure energy security. Odile Renaud-Basso said that the EBRD will further back Moldova to consolidate the energy sector, including by developing renewable energy sources, noting that Moldova has a great potential for solar and wind energy production. She said the EBRD is also working closely with the government to help organize a tender to attract investors willing to invest in renewable energy in Moldova. The EBRD itself is ready to provide loans on good terms, technical assistance, etc. for this purpose. Odile Renault-Basso also recalled that the EBRD is investing in the modernization of the Moldovan railroads and will continue to allocate money for this purpose, which is very important now, given the need to create regional transport routes for the transit of Ukrainian products and to expand export-import operations of Moldova and Ukraine with the EU countries. The EBRD President said that the bank's investments in Moldova are aimed at supporting the country's economic development. At the same time, special attention is paid to the work with the private sector, with banks, and the better the private sector will be, the better the economy will develop. Important investments are made in the development of agribusiness to modernize equipment in order to produce finished products with high added value instead of supplying raw materials. Large funds are directed to the development of roads and railroads, development of infrastructure of Giurgiulesti port, which is important for the country as a whole. As InfoMarket reported earlier, in February this year the EBRD Board of Directors approved a new Country Strategy for Moldova for 2023-2028. According to the European Bank for Reconstruction and Development, this document defines the bank's investment and political pace with the EU candidate country for the next 5 years. At the same time, the EBRD's three strategic priorities for Moldova for 2023-2028 will be: improving 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 to support growth and enhance connectivity and trade. // 07.08.2023 – InfoMarket
