OREANDA-NEWS. May 26, 2009. “We want to keep the level of investments of the year of 2008 in the year of 2009”, - Libor Krkoska.

Last year we have done 107 mil. euro in commitments which is about 3 times as much as in the previous year and we would like to not only reach the same amount but actually exceed it, the Head of the EBRD Representative Office in Chisinau said in the interview. He said only about 60 mil. euros had been disbursed in 2008 out of the total volume of signed projects in the amount of 107 million euros.

This year we are focusing again not only on finding new projects but also to disburse already committed amounts, Krkoska said and added that business development during the crisis period was a big challenge. “But we are open to this challenge and we a trying to be flexible and open to many suggestions”, he said.

He said the EBRD wasn’t allowed to do direct financial support. “So what we can do is to finance the individual projects like water supply, energy rehabilitation, road modernization. But we are working very closely with donors and many of our potential projects are accompanied by grants from various donors”, Krkoska said.

Answering the question about the EBRD’s investment plans in Moldova in 2009, Libor Krkoska said it depended on negotiations with the individual clients because some of them are maybe interested in grants and not in commercial financing. Libor Krkoska expressed his hope that agreements on financing projects for small and medium-sized enterprises, in the field of financial sector support, energy efficiency, water supply and infrastructure would be signed in Moldova this year. He also said the news of the year would be the fact that the EBRD would be able to provide loans in leis to minimize risks connected with the foreign exchange rate fluctuations.