Conference discusses prospect of Moldova joining the Single Euro Payments Area (SEPA)

The prospect of Moldova joining the Single Euro Payments Area (SEPA) was discussed for the first time at an international conference held in Chisinau on 17 November.

The event discussed the benefits and challenges of Moldova’s accession to SEPA, the progress made by the authorities and the next steps to be taken by the public authorities to meet the SEPA criteria.

Accession to the Single Euro Payments Area will bring Moldova closer to the EU and its single market, Janis Mažeiks, Ambassador of the European Union to the Republic of Moldova, said at the opening of the conference. 

“This will create invaluable and visible benefits for citizens who will be able to make cashless payments in euros anywhere in the European Union… Moldova needs a sound, stable and fully functional financial system that will serve citizens and businesses. The EU will continue supporting Moldova, especially as the criteria for joining the SEPA reflect certain requirements for adjusting to the European legislation, which are also relevant to the EU accession,” Janis Mažeiks said. 

The event was organised by the National Bank of Moldova within the framework of the Twinning Project ‘Strengthening Supervision, Corporate Governance and Risk Management in the Financial Sector’, financed by the European Union.

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