Republic of Moldova Enterprise Access to Finance : Background Note

Republic of Moldova Enterprise Access to Finance : Background Note

The Government of Moldova is seeking to change the country's development paradigm and build an export-oriented economy characterized by investment, innovation, and competitiveness, following a decade of 'jobless growth'. This report...

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Bibliographic Details
Main Author:	World Bank
Format:	Development Policy Review (DPR)
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCESS TO CREDIT ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESS TO FINANCING ACCESS TO LOANS ACCOUNTS RECEIVABLES ADMINISTRATIVE BURDEN ADVANCED ECONOMY AFFORDABILITY AGRICULTURAL SECTOR ASYMMETRIC INFORMATION BALANCE SHEET BANK BORROWERS BANK BRANCHES BANK CREDIT BANK DEPOSITS BANK FAILURES BANK LENDING BANK LOAN BANK LOANS BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKS BARRIERS IN ACCESS BORROWER BORROWING BUSINESS ACTIVITY BUSINESS LOANS BUSINESS OPPORTUNITIES BUSINESS PLANNING BUSINESS PLANS BUSINESS STRATEGIES BUSINESS STRATEGY CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL FORMATION CAPITAL INVESTMENTS CAPITAL MARKET CAPITAL MARKETS CASH FLOW COLLATERAL COLLATERAL REQUIREMENTS COMMERCIAL BANK COMMERCIAL BANKING COMMERCIAL BANKS COMMERCIAL LOAN COMMERCIAL LOANS CONSUMER LENDING CONSUMER PROTECTION CONTRACTUAL OBLIGATIONS COOPERATIVES CORRUPTION COST OF LOANS CREDIT ASSOCIATION CREDIT ASSOCIATIONS CREDIT BUREAU CREDIT DECISIONS CREDIT HISTORY CREDIT INSTITUTIONS CREDIT LINE CREDIT LINES CREDIT PORTFOLIO CREDIT REPORTING CREDIT RISK CREDITOR CREDITS CREDITWORTHY BORROWERS DEBT DEBT SECURITIES DEMAND FOR CREDIT DEPOSIT DEPOSIT ACCOUNTS DEPOSIT INSURANCE DEPOSITORS DEPOSITS DEVELOPMENT BANK DIRECT LOANS DOCUMENTATION REQUIREMENTS DONOR FUNDS EARNINGS ECONOMIC CRISIS ECONOMIC DEVELOPMENTS ECONOMIC GROWTH EMPLOYEE EMPOWERMENT ENFORCEMENT MECHANISM ENTERPRISE ACCESS ENTERPRISE DEVELOPMENT ENTERPRISE FINANCING ENTREPRENEURS EQUITY FINANCING EQUITY FUND EQUITY FUNDS EQUITY INVESTMENTS EXCLUSION EXPENDITURES EXTERNAL FINANCING EXTERNAL FUNDS FAMILY BUSINESS FARMER FARMERS FINANCIAL ACCESS FINANCIAL ACCOUNTS FINANCIAL DEPTH FINANCIAL EDUCATION FINANCIAL INFRASTRUCTURE FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIATION FINANCIAL LIABILITIES FINANCIAL LITERACY FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL PLAYERS FINANCIAL PRODUCTS FINANCIAL SECTOR DEVELOPMENT FINANCIAL SECTOR POLICY FINANCIAL SERVICE FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL SYSTEMS FIXED CAPITAL FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FORMAL FINANCIAL INSTITUTIONS FORMAL SAVINGS FUNDING SOURCE FUNDING SOURCES GEOGRAPHIC ACCESS GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT INDEBTEDNESS INDICATORS OF ACCESS INFORMAL ECONOMY INFORMATION ASYMMETRIES INSTITUTIONAL INVESTOR INSTITUTIONAL INVESTORS INTEREST RATE INTEREST RATES INTERNATIONAL BANK INTERNATIONAL BANKS INVESTMENT CAPITAL INVESTMENT DECISIONS INVESTMENT PLANS JOB CREATION LARGE BORROWERS LENDERS LENDING DECISIONS LENDING TECHNIQUES LINE OF CREDIT LINES OF CREDIT LOAN LOAN AMOUNT LOAN APPLICATIONS LOAN DEMAND LOAN OFFICERS LOAN PORTFOLIO LOAN SIZE LOAN SIZES LOAN-TO-DEPOSIT RATIOS LOC LONG-TERM FUNDING LONG-TERM LENDING MARKET INFORMATION MFI MFIS MICRO-ENTERPRISE MICRO-ENTERPRISES MICROFINANCE MICROFINANCE INSTITUTIONS MINIMUM BALANCES NEW MARKET NOMINAL INTEREST RATES OUTREACH PENSION FUNDS PRIVATE CREDIT PRIVATE EQUITY PROFIT MARGINS PROFITABILITY RATES OF RETURNS REAL ESTATE REAL ESTATE AS COLLATERAL REGULATORY FRAMEWORK RELIANCE ON COLLATERAL REMITTANCE REMITTANCES REPAYMENT REPAYMENT CAPACITY REPAYMENTS RISK MANAGEMENT RISK PERCEPTION RURAL FINANCE SAVINGS SAVINGS ACCOUNTS SHADOW ECONOMY SMALL BORROWER SMALL ENTERPRISE SMALL ENTERPRISES SMALL FARMERS SMALL LOANS SMALLHOLDERS SOURCE OF INCOME START-UP START-UP CAPITAL START-UPS STOCK EXCHANGE STOCK MARKET TAX BURDEN TERM CREDIT TRADE FINANCING TRANSACTION COSTS UNIVERSAL BANK URBAN AREAS VALUE OF COLLATERAL VENTURE CAPITAL WAREHOUSE WAREHOUSE RECEIPTS WORKING CAPITAL
Online Access:	http://documents.worldbank.org/curated/en/2013/06/17878823/moldova-policy-priorities-private-sector-development-vol-2-2-background-note http://hdl.handle.net/10986/16084

Description
Summary:	The Government of Moldova is seeking to change the country's development paradigm and build an export-oriented economy characterized by investment, innovation, and competitiveness, following a decade of 'jobless growth'. This report focuses on improvements that will be needed to move Moldova to the next stage of development as envisioned in the Moldova 2020 strategy; however, reforms over the past decade also deserve acknowledgment. Improving the business environment is an especially important task, given Moldova's low levels of natural resources and small internal market. This study aims to identify the most pressing problems in the business environment that are adversely affecting Moldovan companies' productivity and competitiveness, and to present recommendations that would help remove these obstacles. The analysis is based on a review of existing reports; interviews with government officials, private sector associations, a sample of businesses, and some subject matter experts; as well as original research on access to finance. This study has identified that the following aspects of doing business are the most problematic: customs administration; tax administration; business regulation, consisting of licenses, authorizations, permits, and inspections; the competition framework; and access to finance. This report presents short-term (2013-2014) and longer-term (2015-2017) recommendations in each of the five priority areas.