The European Union will provide new assistance to strengthen the financial sector of Moldova – the NBM.
The National Bank of Moldova (NBM) announced this, noting that the European Union will launch a major Twinning project to strengthen supervision, corporate governance and risk management in the financial sector of Moldova. Within the framework of this 2-year project, the National Bank and the National Commission for Financial Market (NCFM) will receive assistance from some of the EU partner institutions, which have established a consortium consisting of the National Bank of Romania, the project leader, the Central Bank of the Netherlands and the Central Bank of Lithuania, in cooperation with the Romanian Financial Supervisory Authority and the National Romanian Consumer Protection Authority. This project will help the NBM and the NCFM to further develop their capabilities following EU best practices to ensure a high level of financial sector stability for the benefit of citizens and businesses. The project launch event will take place on January 18, with the participation of officials from Moldova, the EU Ambassador to our country, high-level representatives of partner central banks, as well as other officials. The event will be organized online and can be viewed live on the online platforms of the EU Delegation to Moldova, as well as the National Bank of Moldova and Privesc.eu. Twinning is an instrument of EU institutional cooperation between the authorities of the EU countries and the authorities of the beneficiary countries. Under the projects, EU public sector experts are sent to assist the beneficiary authorities in achieving some specific tasks. More information about the Twinning Help Tool is available on the European Commission website. Earlier, in 2015-2017, the NBM implemented the Twinning project to develop and strengthen its operational and institutional capacity in the field of prudential regulation and supervision of the capital market, investment funds, insurance companies, savings and loan associations and pension funds. // 14.01.2022 – InfoMarket
