The Project was implemented by the Polish Financial Supervision Authority to the benefit of the State Chancellery of the Republic of Moldova and associated state administration bodies of Moldova from January to December 2013.

The Project was financed by the Polish development cooperation programme 2013 of the Ministry of Foreign Affairs of the Republic of Poland.

Implemening Authority (Donor): The Polish Financial Supervision Authority (UKNF).

Beneficiary:

• Final Beneficiary:
  - State Chancellery of the Republic of Moldova.
• Supplementary Beneficiaries:
  The respective public administration bodies and government institutions, associated with supervision of the financial market in Moldova, including i.a.:
  - National Commission for Financial Markets (Comisia Naţională a Pieţei Financiare - NCFM)
  - National Bank of Moldova (Banca Naţională a Moldovei - BNM)
  - The respective government institutions of Moldova – eg. the Ministry of Finance, the Ministry of Justice, the Ministry of Economy.

The Project implementation period: January – December 2013 (implementation of expert mission: May – November 2013).

All objectives and results of the Project were successfully achieved.

The overall objective of the Project was to improve the quality of the Moldovan financial markets supervision; protect investors in financial markets and consumers of financial services.

Project purposes:

• Identify existing gaps within the Moldovan institutional and legal framework and offer recommendations regarding required changes in supervision of the capital and banking markets.
• Build capacity (improve qualifications of representatives) within the Moldovan financial market regulators.

The Project was addressing current needs of the financial market supervision in Moldova, elaborated and submitted to the Polish Financial Supervision Authority by the State Chancellery of the Republic of Moldova. Given its cross-institutional character, the detailed scope of the Project activities was developed in cooperation between UKNF, the State Chancellery and respective public administration bodies (government institutions) of the Republic of Moldova, associated with supervision of the financial market.

The scope of the Project covered preparation and implementation by the UKNF experts 14 expert missions in Chisinau within two project components: (a) Legal and institutional assessment and support; (b) Institutional development of the National Commission for Financial Markets and subordinated actors. Within the Project implementation experts of the UKNF developed and provided the Moldavian state administration bodies with the reports covering assessment of the institutional and legal framework along with recommendations or action plans aimed at improvement and further development of the financial market supervision of Moldova.

Financial resources of the Development Co-operation Project No 19/2013

The Project was financed by the Polish development cooperation programme 2013 of the Ministry of Foreign Affairs of the Republic of Poland.

Project total value: 370 530 PLN. 

Contact:                                                                                             
Joanna Lipowczan
Project Manager
e-mail: joanna.lipowczan@knf.gov.pl