Pictured project: Strengthening the National Bank of Moldova's (NBM) capacity in the field of banking regulation and supervision in the context of EU requirements. MD/14/ENP/FI/16, 2015-2017
Over the last decades, the National Bank of Romania (NBR), once recipient of technical assistance, has made significant strides towards becoming an implementer of technical assistance itself with the support of its European Union partners.
Having benefited from Twinning projects, the bank’s core functions and practices were brought in line with those of the EU central banks, contributing to stability and confidence in the Romanian banking sector.
After Romania’s accession to the EU in 2007, the NBR took on the duty of sharing its experience regarding institutional and capacity building and its newly gained expertise to EU candidate countries and neighboring countries.
In 2015-2017, a consortium formed by the National Bank of Romania and De Nederlandsche Bank implemented a Twinning project building banking regulation and supervision capacity within Moldova’s National Bank. The deliverables included:
- A new Law on banking activity and 22 secondary regulations, aligned to the EU acquis on capital requirements;
- New set of internal rules, allowing to efficiently exercise the supervisory function as well as capacity building on Basel III framework,
In 2021-2024, together with Dutch and Lithuanian partners, NBR continues support to the National Bank of Moldova, now in strengthening supervision, corporate governance and risk management in the financial sector.
In addition to taking the lead in Twinning projects benefitting the Republic of Moldova, NBR partnered on other successful Twinning projects:
- In Serbia, as a junior partner alongside the Deutsche Bundesbank (project leader) and the Croatian National Bank (junior partner). NBR experts provided assistance on macroeconomic modelling and forecasting, foreign exchange reserve management, communication in the EU integration process and financial stability;
- In Albania, through short-term expert missions within the Twinning project “Enhancing Bank of Albania’s Alignment with EU Acquis”;
- In North Macedonia, via short-term expert missions on statistics, oversight of payment systems, macroeconomic modelling and forecasting.