EBRD lends €200 million to Moldova to purchase emergency gas supplies
November 10, 2022

EBRD lends €200 million to Moldova to purchase emergency gas supplies

The European Bank for Reconstruction and Development (EBRD) is lending €200 million to Moldova to purchase emergency gas supplies. The loan was approved by the EBRD’s Board of Directors today at an extraordinary Board meeting.

The tranche will be used for emergency gas purchases in case of supply disruption under Moldova’s current five-year contract with Russian state-owned supplier Gazprom.

“Moldova is facing one of the worst energy crises in Europe and, with winter at our doorstep, it’s essential that Moldovan citizens and Ukrainian refugees have access to an affordable, stable energy supply to heat their homes and keep the lights on,” said Matteo Patrone, EBRD Managing Director, Eastern Europe and the Caucasus. “This emergency facility will enable the government to buy gas and prevent disruption this winter, safeguarding access to vital energy services for Moldovans and Ukrainians.”

The commitment is part of a €300 million revolving loan approved this summer under the Bank’s €2 billion Resilience and Livelihoods Framework to support Ukraine and neighbouring affected countries. This loan aims to safeguard Moldova’s energy security and follows an earlier tranche of €100 million. It was provided to the state-owned energy trader JSC Energocom to procure strategic gas reserves to diversify Moldova’s energy supply.

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