{"id":236027,"date":"2005-08-12T11:25:00","date_gmt":"2005-08-12T11:25:00","guid":{"rendered":"http:\/\/new.moldova.org\/2005\/08\/12\/supporting-moldova-to-achieve-sustainable-growth-3895-eng\/"},"modified":"2005-08-12T11:25:00","modified_gmt":"2005-08-12T11:25:00","slug":"supporting-moldova-to-achieve-sustainable-growth-3895-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/supporting-moldova-to-achieve-sustainable-growth-3895-eng\/","title":{"rendered":"Supporting Moldova to achieve sustainable growth"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span><p>Aug. 10 2005 <\/p>\n<p>Press Release &#8211; European Bank for Reconstruction and Development <\/p>\n<p>Despite strong growth rates in recent years, Moldova remains the poorest country in Europe with an estimated GDP per capita of $719 in 2004. Only sustainable growth over a prolonged period of time will improve living standards. Long-term prosperity will depend on renewed efforts to implement structural reforms, strengthen market institutions and improve the investment climate, the EBRD says in its new strategy for Moldova. <\/p>\n<p>In its assessment the Bank has established a number of challenges that need to be addressed. Moldova has to reduce government interference, strengthen its regulatory authorities, streamline its legal framework and fight against corruption to establish fair competition and improve the investment climate. Economic diversification should help reduce the country&rsquo;s strong dependence on agriculture and exports to CIS markets. <\/p>\n<p>The EBRD&rsquo;s priorities as outlined in the strategy are: <\/p>\n<p>The Bank will support micro, small and medium sized enterprises with credit lines and work with local banks to overcome lending constraints. <\/p>\n<p>The EBRD will seek to extend its cooperation to new partner banks and assist in the development of new financial instruments. <\/p>\n<p>The Bank will continue to pursue investment opportunities in all enterprise sectors and facilitate foreign direct investment either by investing alongside foreign strategic investors or by assisting the development of local companies. <\/p>\n<p>By supporting private infrastructure investments the EBRD will seek to redress the balance between the capital city and the regions, especially in rural areas. <\/p>\n<p>As of June 2005 the EBRD has signed 36 projects for a cumulative business volume of &euro;177.7 million in Moldova. The average project size is &euro;2.9 million. The country is part of the EBRD&rsquo;s Early Transition Countries initiative, designed to address the needs of the poorest countries in which the Bank operates.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span>Aug. 10 2005 Press Release &#8211; European Bank for Reconstruction and Development Despite strong growth rates in recent years, Moldova remains the poorest country in Europe with an estimated GDP per capita of $719 in 2004. Only sustainable growth over a prolonged period of time will improve living standards. Long-term prosperity will depend on renewed [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-236027","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span><p>Aug. 10 2005 <\/p>\n<p>Press Release &#8211; European Bank for Reconstruction and Development <\/p>\n<p>Despite strong growth rates in recent years, Moldova remains the poorest country in Europe with an estimated GDP per capita of $719 in 2004. Only sustainable growth over a prolonged period of time will improve living standards. Long-term prosperity will depend on renewed efforts to implement structural reforms, strengthen market institutions and improve the investment climate, the EBRD says in its new strategy for Moldova. <\/p>\n<p>In its assessment the Bank has established a number of challenges that need to be addressed. Moldova has to reduce government interference, strengthen its regulatory authorities, streamline its legal framework and fight against corruption to establish fair competition and improve the investment climate. Economic diversification should help reduce the country&rsquo;s strong dependence on agriculture and exports to CIS markets. <\/p>\n<p>The EBRD&rsquo;s priorities as outlined in the strategy are: <\/p>\n<p>The Bank will support micro, small and medium sized enterprises with credit lines and work with local banks to overcome lending constraints. <\/p>\n<p>The EBRD will seek to extend its cooperation to new partner banks and assist in the development of new financial instruments. <\/p>\n<p>The Bank will continue to pursue investment opportunities in all enterprise sectors and facilitate foreign direct investment either by investing alongside foreign strategic investors or by assisting the development of local companies. <\/p>\n<p>By supporting private infrastructure investments the EBRD will seek to redress the balance between the capital city and the regions, especially in rural areas. <\/p>\n<p>As of June 2005 the EBRD has signed 36 projects for a cumulative business volume of &euro;177.7 million in Moldova. The average project size is &euro;2.9 million. 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