The National Bank of Moldova (NBM) and the International Finance Corporation (IFC) have signed a cooperation agreement on sustainable financing
According to the NBM, specifically in Luxembourg, on the sidelines of the IMF and World Bank Group Annual Meetings, the National Bank of Moldova and the International Finance Corporation, member of the World Bank Group, signed a cooperation agreement on the implementation of the Sustainable Finance Roadmap for 2024–2028. The agreement, signed by NBM Governor Anca Dragu and IFC Regional Vice President for Europe, Latin America and the Caribbean, Alfonso Garcia Mora, aims to strengthen the regulatory framework for sustainable finance and develop the institutional capacity of supervisory authorities and the banking sector in Moldova to support the transition to a sustainable economy in line with European and international standards. "This agreement reflects the NBM's consistent commitment to integrating environmental, social, and governance criteria into the national prudential architecture and promoting sustainable finance as a priority area for development. Cooperation with the IFC reinforces this approach through the specific technical support needed to adapt Moldova's financial system to European standards," Anca Dragu emphasized. Under the agreement, IFC will provide technical assistance to the NBM to implement the Sustainable Finance Roadmap in two areas: developing a regulatory framework for integrating ESG (environmental, social, and governance) criteria and taxonomy at the national level, and strengthening institutional capacity. The planned activities include developing guidelines on green loans, providing support in the area of non-financial reporting, and organizing training sessions for NBM staff and the banking sector to facilitate the implementation of the new requirements. Cooperation with the IFC in the area of sustainable finance complements the NBM's approach to adapting the financial regulatory framework to international best practices with a view to promoting investment in sustainable projects and stimulating structural transformation of the economy. The initiative is integrated into the priorities adopted under the National Program for Accession to the European Union, the Growth Plan for Moldova, and supports the process of transposing EU Regulation 2020/852 on the taxonomy of sustainable activities, which should be completed by 2026. // 04.07.2025 — InfoMarket
