THE ROLE OF INTERNATIONAL INSTITUTIONS IN SUSTAINABLE LOCAL DEVELOPMENT ON EXAMPLE OF ESTABLISHING MICROFINANCE IN THE REPUBLIC OF MOLDOVA

Abstract

Given that over 80% of the EU territory is represented by rural areas inhabited by over one quarter of the EU population, the Agenda 2000 of the European Commission adopted in June 1997 includes „coherent policies of sustainable rural development”. Since the Republic of Moldova has regained its independence, it has been eager to occupy its own place among the democratic nations of the world and currently nourishes hopes to build a competitive economy. This paper will consider the ways, components, implications of the export system, preceded by a very brief description of the specifics of the Republic of Moldova. The case of the microfinance system will be used for a better exemplification, especially the part focusing on rural areas, analyzed from the quantitative and qualitative points of view.