The National Bank of Moldova (NBM) will get a clear and objective picture of the efficiency of the country's financial system thanks to the joint Financial Sector Assessment Program (FSAP) of the IMF and the WB
This was stated during the meetings that the NBM delegation, headed by President Anca Dragu, held in Washington with high-ranking officials of the World Bank Group: Eugene Rhuggenaath, Executive Director of the WB Group for Moldova, Antonella Bassani, Vice-President of the WB Group for Europe and Central Asia, as well as with experts from the financial sector of the WB Group. The main topic of the meetings was the joint Financial Sector Assessment Program (FSAP) of the IMF and the WB. Through this assessment, the National Bank of Moldova aims to obtain a clear and objective picture of the financial system efficiency. This will contribute to identifying opportunities for sector reform, implementing international standards such as Basel III principles, and strengthening the capacity to respond to economic challenges. Discussions focused on the World Bank's technical assistance to the National Bank of Moldova, domestic economic developments and the NBM's commitment to maintaining macroeconomic stability and taking targeted measures to increase confidence in the banking system and bring Moldova closer to European standards. “We appreciate the World Bank's expert assistance mission for the support provided in important areas such as the digital financial services sector, the financing framework or the banking resolution. Our joint efforts mean safe, accessible and convenient financial services for citizens,” Anca Dragu said. The NBM Governor also praised the World Bank's support in the elaboration of the National Financial Inclusion Strategy, which will play an important role in reducing economic inequalities and ensuring access to financial services for all Moldovan citizens. The agenda of the meeting also included discussions with the WB Group's Financial Sector Specialist Syed Mehdi Hassan on Moldova's prospects of joining the World Bank Group's financing program, designed to support a number of European and Central Asian countries in their efforts to improve financial inclusion. During the meetings, the sides also discussed the National Bank's involvement in supporting Moldova's transition to a sustainable model of economic development and its progress on the path of accession to the European Union. The meetings took place during the spring meetings of the World Bank Group and the IMF, held from April 21 to 26 in Washington. Along with the delegation of the National Bank of Moldova, representatives of the Ministry of Finance, headed by Minister Victoria Belous, took part in the discussions. // 23.04.2025 - InfoMarket.
