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PRESS RELEASE

IFC Launches Risk-Management Certification Program to Strengthen Moldova's Financial Sector

August 25, 2011



Chisinau, Moldova, August 22, 2011 — IFC, a member of the World Bank Group, this month launched an education and certification program to help bankers in Moldova  improve their risk-management skills, strengthening the country’s financial sector amid a challenging economic environment.  

Banking specialists from financial and training institutions, including commercial banks and the National Bank of Moldova, participated in a seven-day education and certification program in August. The sessions covered financial, credit, market, and operational risk management, and corporate governance. Upon completing the program, participants were certified by the Global Association of Risk Professionals, a globally recognized leader in financial risk education, testing, and certification.

“Information included in this seminar series is vital to helping strengthen Moldova’s banking sector,” said Dan Popov, a financial consultant and program participant. “Participants learned about modern risk-management methodology and global best practices, which will help them to recognize and manage potential problems early.”

The certification program was launched in partnership with Grant Thornton International, one of the leading banking consulting firms in Moldova. Over the next three years Grant Thornton will deliver Moldovan-language seminars to more than 50 candidates who plan to take risk-certification exams.

“IFC is supporting post-crisis recovery of Moldova’s banking sector,” said Garth Bedford, Manager of IFC’s Financial Market Crisis Response Program in Eastern Europe and Central Asia. “This education and certification program will help equip Moldova’s banking professionals with the knowledge they will need to assess and mitigate future risk.”

IFC’s Financial Market Crisis Response Program in Eastern Europe and Central Asia, launched in 2009, has delivered training on risk and distressed-asset management to about 2,000 banking professionals.  The program also is helping to develop legislation that will create a transparent market for distressed assets in the region.

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion.

For more information, visit www.ifc.org

Media Contacts
In Ukraine
Tatyana Korzhovskaya
Tel : +380 44 490 64 00
TKorzhovskaya@ifc.org



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