BNM, World Bank kick off discussions for drafting National Financial Inclusion Strategy

Chisinau, Sep 24 /MOLDPRES/- Moldova will set up a National Financial Inclusion Strategy. The document will ensure equitable access to financial services for all citizens, contributing to reducing economic inequalities.

The country will benefit from the support of World Bank experts to develop the strategy. In the context of the technical assistance mission of the World Bank, the delegation of the National Bank of Moldova (BNM), headed by Deputy Governor Tatiana Ivanicichina, together with representatives of other institutions and organizations with competencies in the economic and financial fields met at the BNM headquarters.

"This strategy is essential to ensure equitable access to financial services for all citizens, thus contributing to reducing economic inequalities", Ivanicichina said.

Leader of Financial Sector at World Bank Syed Mehdi Hassan emphasized the crucial importance of a National Financial Inclusion Strategy for the Republic of Moldova. According to him, a well-founded strategy will significantly contribute to increasing the population's access to safe and affordable financial services, thus ensuring an economic development based on equity.

During the meeting, World Bank representatives discussed the steps in developing the strategy, noting the importance of inter-institutional collaboration. Each institution will play a key role in the process.

The discussions were also attended by members of the inter-institutional working group, recently formed by the signing of a Memorandum of Understanding between the relevant institutions. 

The technical assistance mission of World Bank experts to Chisinau continues with detailed discussions over the next two weeks, from September 23 to October 4, 2024, to set proposals for the National Financial Inclusion Strategy, which will play an important role in ensuring access to financial services for the citizens of the Republic of Moldova. It is part of the technical support program financed by Moldova - Growth, Resilience and Opportunities for Wellbeing (M-GROW) Trust Fund, managed by the World Bank.

According to the BNM, more than 60 countries have already adopted financial inclusion strategies, thus benefiting from increased access to modern, digital and innovative financial services, which has led to increased prosperity and reduced economic inequality.