In Moldova we focus on:
- Creating the conditions to support private sector development: The EBRD is supporting measures to improve the business environment, both through investment projects which help attract foreign direct investors, as well as through engaging with the Moldovan authorities to promote much-needed reforms. The EBRD is supporting the Economic Council, an advisory body to the Prime Minister, which brings together policy-makers and the business community with a view to enhancing the business climate. Improving the business climate is crucial for the Bank’s ability to further support the private sector and attract investment. Governance and transparency in the banking sector are particular concerns and the EBRD is working closely with the authorities to address them.
- Promoting European standards and regional integration: The EBRD is investing in projects which help Moldova develop value-added exports – especially in manufacturing and agribusiness sectors – which will be competitive in regional markets. As Moldova and the EU are moving forward towards a Deep and Comprehensive Free Trade Area (DCFTA), Moldovan companies need to adopt higher production and quality standards than those currently applied. In addition, the EBRD is financing improvements in the country’s infrastructure to develop links to neighbouring countries as well as internal transport infrastructure needed to bring domestic producers closer to their markets. The Bank is contributing to strengthening energy security and efficiency, and is helping develop the telecommunications sector.
- Enhancing commercialisation and sustainability of municipal enterprises: The EBRD is continuing to finance regional and municipal water supply companies and is looking into ways to modernize district heating and solid waste management and promote public-private partnerships (PPPs) in the sector.
As well as being a country where the EBRD works, Moldova is also an EBRD donor. Moldova contributed €1.2 million to the Eastern Europe Energy Efficiency and Environment Partnership (E5P) Fund.
The EBRD’s latest Moldova strategy was adopted on 29 November 2017
- Moldova private sector diagnostic
- The EBRD's latest Moldova Strategy
- Local language translation
- Report on the invitation to the public to comment on the Moldova strategy
Moldova's policy response to the coronavirus crisis
The EBRD is monitoring Moldova's policy response to the coronavirus pandemic. Our biweekly publication identifies the major channels of disruption as well as selected impact and response indicators.
EBRD forecast for Moldova’s Real GDP Growth in 2021 7.0%
EBRD forecast for Moldova’s Real GDP Growth in 2022 4.0%
The Moldovan economy posted strong economic growth of 11.7 per cent year-on-year in the first half of 2021. Growth was mainly driven by double-digit growth of investment and household consumption on the demand side, and equally strong performances of the manufacturing, construction and ICT sectors on the production side.
The strong recovery was supported by revived export demand from European automotive value chains, as well as a high increase of money transfers, growing by 23.2 per cent year-on-year in the first half of the year, and feeding into households’ disposable incomes. Higher food and energy prices since the beginning of 2021 pushed inflation up from almost zero in January to 6.7 per cent in September 2021, exceeding the central bank’s target rate of 5 per cent. The National Bank of Moldova reacted by raising the base rate three times, to 5.5 per cent in October 2021.
