Since 1 September 2020, the Deutsche Sparkassenstiftung für internationale Kooperation e.V. (German Sparkassenstiftung for International Cooperation) has been implementing a project to strengthen the sustainable development of rural areas by improving access to finance for climate-adaptive measures in the Republic of Moldova.

The project activities, which are funded by the German Federal Ministry for Economic Cooperation and Development (BMZ), aim at strengthening the development potential of rural regions in the Republic of Moldova by supporting an adequate supply of financial services, especially for investments in climate-adaptive measures. Particular attention is paid to improving the financial literacy of micro, small and medium-sized entrepreneurs and farmers.

The month of May was marked by two successful announcements: On the one hand, the project was officially registered by the Moldovan authorities on 4 May. On the other hand, the new President of the Republic of Moldova, Maia Sandu, invited German Sparkassenstiftung’s Country Representative in Moldova, Wulf Schmieder, together with Office Manager Cristina Virschi, to a meeting at the President’s Office on 6 May. The conversation was led by Sergiu Gherciu, State Secretary at the Ministry of Agriculture, Regional Development and Environment, who is responsible for regional and rural development within the Moldovan government.

The State Secretary showed great interest in the German Sparkassenstiftung’s project and pledged his support. Regular consultations with the President’s office were agreed. However, all political decisions are currently on hold until the new parliamentary elections in early July 2021.