Chisinau, Moldova, February 24, 2012—IFC,
a member of the World Bank Group, in partnership with the Embassy of the
Kingdom of Sweden in Chisinau and Moldova’s Ministry of the Economy, has
launched a project to streamline agribusiness regulations in Moldova, promoting
investment and stimulating development of the agricultural sector.
The Investment Climate Reform Project
aims to improve the conditions for doing business in Moldova and to attract
new investments in the agribusiness sector.
“A sound and transparent investment
climate is needed to create a level playing field for all companies in
Moldova and to attract investment,” said Ingrid Tersman, Swedish Ambassador
to Moldova. “I welcome the commitment of the government of Moldova to
reform this sector, which is crucial for the economic development of the
IFC will offer the Moldovan government
advice on how to improve and simplify regulations and encourage and retain
investment, helping foster competitive markets, economic growth, and job
“Moldova has significantly improved
its regulations since independence,” said Tomasz Telma, IFC Director for
Europe and Central Asia. “Regulatory reform is critical to leveraging
the full potential of Moldova’s agribusiness sector and increasing its
competitiveness by reducing the regulatory burden and simplifying conditions
for business development.”
Moldova became a member of IFC in 1995
and IFC’s investment portfolio in the country stands at $86 million. Through
a combination of investment and advisory services, IFC is helping increase
access to finance by supporting the development of local financial institutions.
IFC is also helping attract private sector investors to develop the infrastructure
and agribusiness sectors.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, providing advisory services to businesses and
governments, and mobilizing capital in the international financial markets.
In fiscal 2011, amid economic uncertainty across the globe, we helped our
clients create jobs, strengthen environmental performance, and contribute
to their local communities—all while driving our investments to an all-time
high of nearly $19 billion. For more information, visit www.ifc.org