The WB will continue supporting Moldova's sustainable development and the implementation of reforms in strategic areas under the Partnership Program.
This was stated during a meeting that the representatives of the National Bank of Moldova (NBM), headed by its Governor Anca Dragu, had with the World Bank's representatives in Moldova, together with the head of the WB office in Moldova, Inguna Dobrja. The NBM informs that the sides discussed Moldova's macroeconomic development and economic prospects, the priorities of the National Bank of Moldova, its progress in harmonizing the national normative framework of the banking activity with the European one, as well as other topics of great interest, including future cooperation. Anca Dragu emphasized that the independence, integrity and transparency of the NBM are the main objectives. Also, the NBM president spoke about the need to increase the degree of financial intermediation in order to ensure Moldova's economic development. For her part, Inguna Dobraja reiterated that the World Bank believes in Moldova's development and confirmed the WB's full support in the implementation of reforms in different strategic fields for Moldova, as well as in Moldova's European course. A separate topic during the meeting was the technical assistance provided to the National Bank of Moldova by the World Bank. In this context, the sides highlighted the support for the development of a sustainable structure of financing the Moldovan financial sector, the improvement of the legal framework regarding the banking resolution and the elaboration of the National Strategy of Financial Inclusion. During the discussions, the World Bank's technical assistance projects for the NBM were mentioned, including training in the central bank's activity areas: risk management, compliance and internal audit, foreign exchange reserves management, banking supervision, etc. Also, there were discussed NBM's commitments on sustainable financing by joining the international network of sustainable financing in 2023. At the same time, reference was made to the Partnership Framework Program with Moldova for 2023-2027, through which the World Bank continues to support Moldova's sustainable development, financing and advising reform programs aimed at a greener economy and job creation. It should be mentioned that the World Bank regularly organizes trainings for the representatives of the National Bank of Moldova, where innovations, technologies and methods of foreign exchange reserves management are presented, as well as the assessment and reduction of investment risks related to this process. At the same time, in the field of recovery, resolution and supervision of banking activity, the NBM cooperates with the representatives of the Financial Sector Advisory Center of the World Bank (FinSAC). // 15.02.2024 - InfoMarket.
