EBRD lends Moldova €300 million to safeguard energy security
The EBRD is lending Moldova €300 million to boost its energy security by acquiring strategic gas reserves to supplement those currently provided by Russia through Ukraine.
The loan will finance up to one-fifth of Moldova’s planned gas imports for 2022, which are vulnerable to potential interruption as a result of the war on Ukraine. Currently, these imports all come from the Russian company Gazprom, under a contract that expires in 2026.
The loan, made under the bank’s €2 billion Resilience and Livelihoods Framework supporting Ukraine and neighbouring affected countries, will be divided into two tranches. A €200 million emergency tranche will be used in case of supply disruption, while a further €100 million will be used to create a strategic gas reserve to be stored in Romania or Ukraine to avoid seasonal price spikes and improve energy security.
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