Bank of Lithuania to share good practices with National Bank of Moldova
Vitas Vasiliauskas and Sergiu Cioclea, the heads of the Bank of Lithuania and the National Bank of Moldova, signed a memorandum, agreeing to cooperate and share information between the two national central banks.
‘The Bank of Lithuania will provide expert support and technical assistance to its Moldovan colleagues. They are currently facing challenges that we have already overcome, and we are happy to be able to share our experience and good practices,’ said Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania.
During a visit in Lithuania, the delegation of the National Bank of Moldova, led by Mr Cioclea, engaged in discussions with members of the Board of the Bank of Lithuania and representatives of the Bank’s different units regarding the key priorities and areas for cooperation. These include central bank reform, strengthening of the banking sector, financial sector supervision, development of payment systems and FinTech and economic research.
In 2014, Moldova signed an association agreement with the European Union and is currently pushing through a number of reforms. One of the key priorities for the National Bank of Moldova is closer cooperation with EU national central banks, gaining experience from them.
Similarly, the Bank of Lithuania cooperates with the national central banks of Ukraine, Belarus, providing technical assistance and sharing information.