NEWS

Moldova: Filat signs €17 million EIB loan deal for power grid upgrade

28-06-2012

Moldovan Prime Minister Vladimir Filat has signed a €17 million loan contract with the European Investment Bank (EIB) to finance the rehabilitation of Moldova’s power transmission network, the EIB said in a press release yesterday.
 
Speaking after the signing in Brussels, EIB Vice-President Molterer commented: “The loan signed today is a good example of cooperation between the Republic of Moldova and the EIB. I very much welcome the fact that EIB funds will support the rehabilitation of electricity infrastructure, which is crucial for the further development of Moldova’s economy."
 
He added he had discussed with Prime Minister Filat new possibilities for project financing to support the government’s priorities, mainly in the areas of energy, transport, environmental infrastructure and agribusiness.
 
The EIB loan will help increase the capacity and improve the reliability of the Moldovan electricity transmission system, bringing it more closely into line with to the European Network of Transmission System Operators for Electricity standards (ENTSO-E).
 
The project includes the rehabilitation of key transmission assets, such as substations, transmission lines and transformers, which have reached the end of their technical life. It consists of a large number of individual schemes geographically dispersed throughout the country.
 
This is the ninth EIB loan in Moldova, bringing the EIB’s lending commitment in the country to €272 million. To date, the EIB has provided funds for the development of Moldova’s transport, energy and municipal infrastructure. It has also provided credit lines to partner financial institutions for supporting indirectly smaller projects usually implemented by small and medium-sized companies in various sectors, including the wine sector focusing on the increase of wine quality. (EU Neighbourhood Info)
 
Read more
 
Press release
 
EU Neighbourhood Info Centre – Commissioner: Moldova rewarded for headway in reforms (27-06-12)
 
EU Neighbourhood Info Centre – EU-Moldova: Geographical Indications deal opens door to promote high quality food and agriculture (27-06-12)
 
EU Neighbourhood Info Centre – Moldova one step closer to European common aviation market (26-06-12)
 
EU Neighbourhood Info Centre – EU-Moldova Cooperation Council hails positive dynamics in relations (26-06-12)
 
EU Neighbourhood Info Centre – EU assesses progress in relations with Moldova: new country report released (23-05-12)
 
EU Neighbourhood Info Centre webpage – Moldova
 
EU Delegation – Moldova
 
 
 

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