Microfinance Development Strategy for the Republic of Moldova
The microfinance sector in Moldova dates back to 1997, with the establishment of the first SCA. Until 2003, there was not any clear development strategy for microfinance activity as it had relied on state and donor support provided as part of a number of development projects. The lack of coordination between various MFIs, donors’ efforts and the State has further slowed down progress in this sector. This resulted in a fragmented and sporadic expansion of microfinance sector providing only 15% of the demand.
Upon the initiative of BIZPRO, a team of local professionals have made an assessment of the current situation, challenges and prospects for expansion of microfinance sector. As a result of a systemic approach being applied, and of the cooperation with BIZPRO team, other stakeholder institutions (government and non-governmente), supporting the development of microfinance, the team has devised a strategy for 2004-2009.
