The Head of the EU Delegation to the Republic of Moldova, Peter Michalko, discussed with the Governor of the NBM Sergiu Cioclea and with the Deputy Governor Cristina Harea about the progress of reforms in the banking sector and about the actions to be taken in the framework of the EU- Republic of Moldova Association Agreement.

The head of the Central Bank appreciated the European support in the successful implementation of the Twinning Project and the launch of a new assistance project in the financial-banking sector. In this context, the Governor of the NBM highly appreciated the assistance provided to the Central Bank of Moldova by Aldona Jociene the EU High-Level Advisor in the field of banking supervision and regulation.

In his turn, Peter Michalko reaffirmed the EU's openness to continue granting to the National Bank the necessary support to develop reforms, and mentioned the importance of achieving all the commitments made by the authorities under the IMF and the European Union programs in order to restore credibility of the NBM after the bank crisis. In this context, Peter Michalko highlighted the importance of investigation of frauds in the banking sector (2014). The ambassador appreciated the progress made by our country in establishing a modern regulatory and supervisory framework in line with EU standards (Basel III) and insisted on the necessity to further strengthen the independence and supervisory capacities of the NBM aimed at ensuring financial stability and transparency of the financial-banking sector in the benefit of all citizens of the country.

This is the second visit of the head of the EU Delegation, Peter Michalko, to the NBM. On October 20, 2017, the National Bank hosted a joint meeting with the heads of diplomatic missions from the EU countries to the Republic of Moldova, attended also by the Finance Minister Octavian Armasu. The event which discussed macro-financial developments and the situation in the banking system took place after the annual meeting of the IMF and of the World Bank Group.