IFC, a member of the WB Group, will assist in harmonizing Moldova’s legislation in the capital market field with the EU requirements
This was stated at the meeting of representatives of the National Financial Market Commission (CNPF) with the team of the International Finance Corporation (IFC), a member of the World Bank Group. According to the CNPF, the discussions were focused on the priorities of continuing IFC assistance in the process of harmonizing the national legislative framework in the capital market area of Moldova in compliance with the EU requirements, as well as mutual obligations in this process. The meeting addressed issues related to the EU's agenda of transposing sustainable finance legislation, with a focus on ESG rules (environmental, social and governance - laws designed to help organizations report and improve their performance related to sustainable development, social responsibility and ethical management) and the implementation of the Taxonomy in Moldova, which will require organizations to provide non-financial information demonstrating how they care for the environment. The CNPF Chairman Dumitru Budianschi emphasized that, in line with Moldova's strategic priorities for EU integration, the CNPF has the task to harmonize with the European one the entire regulatory framework in the fields of competence by 2026. In this context, any IFC assistance in achieving this goal, as well as for the implementation of rules in the field of sustainable finance, is welcome. IFC representative in Moldova Galina Cicanci said that this week the IFC team will hold a series of meetings with representatives of the financial sector and stakeholders, including ministries, financial institutions, associations, local NGOs and development partners. The purpose of these meetings is to assess the needs and requirements for the development of a fully EU-compliant regulatory framework. This meeting is part of the ongoing efforts of the CNPF and the IFC team to support the development of a sustainable financial system in Moldova in line with international standards and EU regulations. // 05.03.2025 - InfoMarket
