The new Moldova Strategy of the European Bank for Reconstruction and Development (EBRD) for (2017-2022) is to be approved by the Bank’s Board by the end of this November, EBRD Managing Director for Economics, Policy and Governance Mattia Romani said in a meeting with Deputy Prime Minister Octavian Calmac, Minister of Economy and Infrastructure, IPN reports.

Mattia Romani said the new EBRD strategy for the Republic of Moldova is aimed at improving governance and strengthening the resistance capacity by restructuring the banking sector and consolidating energy security and by improving competitiveness by supporting private companies in developing capacities and promoting the sale of public facilities and infrastructure.

According to the European official, financing is needed to achieve the strategic objectives until 2022. This will include assistance in improving road, energy and municipal infrastructure, obtaining credit lines through eligible commercial banks and encouraging public dialogue for promoting the economic reform agenda, including the investment climate and good governance.

To date, the EBRD has financed 116 projects to the value of over €1.15 billion in Moldova. The EBRD’s current portfolio of projects is of €478 million, 69% of which was allocated for infrastructure, 13% for the energy sector, 10% for industry, trade and agribusiness, while 8% for financial institutions.