OREANDA-NEWS. March 01, 2012. The International Finance Corporation (IFC) - a World Bank Group member, in partnership with the Swedish embassy in Chisinau and the Moldovan Economics Ministry, has launched a project to promote investments in Moldova and stimulate the agricultural sector. Deputy Prime Minister, Economics Minister Valeriu Lazar made statements to this effect at a today's news briefing.

Lazar noted that the project is to be carried out in a three-month period, and its implementation is also supported by the Austrian and Dutch governments. The investment climate reform project is aimed at improving conditions in the business sector, as well as at adjusting regulations in the agriculture field, in order to attract new investments. "We have all the pre-requisites for this project to be successful," Valeriu Lazar stressed.

For her part, Swedish Extraordinary and Plenipotentiary Ambassador to Moldova Ingrid Tersman said that "a sound and transparent investment climate is needed to create a level playing field for all companies in Moldova and to attract national and international investments. I welcome the commitment of the government of Moldova to enter into reform of this sector so crucial for the economic development of the country. Having this initiative combined with a forceful reform of the justice sector, Moldova has the potential to become a country attractive to investments," the diplomat stressed.

"Sweden is one of the biggest European bilateral donors in Moldova, and works in the fields of consolidating democracy, human rights and gender equality, long-lasting infrastructure and market development. The general objective of cooperation for development between Sweden and Moldova represents the integration of Moldova into the European Union," Ingrid Tersman said.

IFC Director for Europe and Central Asia Tomasz Telma said the IFC will offer the Moldovan government advice on how to improve and simplify regulations and encourage and retain investment, helping foster competitive markets and job creation. "Moldova has significantly improved its regulations since independence," Tomasz Telma said.

Moldova became an ICF member in 1995 and IFC's investment portfolio in the country currently stands at 86 million dollars. Through a combination of investments and advisory services, IFC helps increase access to finance by supporting the development of local financial institutions. IFC also helps attract private sector investors to develop the infrastructure and agribusiness sector. As a member of the World Bank Group, ICF is the largest global development institution focused exclusively on the private sector.