“The European Union delegation in the Republic of Moldova notified the Ministry of Investment and European Projects on July 22 of a consortium made up of Romania’s Central Bank, the Netherlands’ Central Bank and the Bank of Lithuania winning the selection process for the twinning project- Strengthening supervision, corporate governance and risk management in the financial sector”, according to transmit BNR representatives.
The project, funded by the European Union within the EU4Moldova program: Facility to support the health response to the COVID-crisis and Association Agreement related Reforms, will be carried out over a 24-month period and targets the Central Bank of Moldova and the National Commission for Financial Markets in the Republic of Moldova.
Romania’s central bank will implement the project, as Project Leader, while the Netherlands’ Central Bank and the Bank of Lithuania were designated as junior partners in the consortium, in collaboration with the Financial Supervisory Authority and the National Authority for Consumer Protection in Romania.
The project’s administrative and financial management will be ensured by the Ministry of Investment and European Projects.
“The overall objective of the project is to support the Republic of Moldova in the implementation of some reforms linked to the EU-Moldova Association Agreement/DCFTA and Association Agenda, by strengthening the supervision, corporate governance and risk management in the financial sector,” according to bank representatives.