The EBRD will continue to support Moldova to ensure energy security and economic development within the framework of its new Country Strategy for 2023-2028.
This was stated by the European Bank for Reconstruction and Development’s Vice-President for Policy and Partnership Mark Bowman after his visit to Moldova. He discussed the EBRD's latest five-year country strategy for Moldova with the country's new leadership, promising further EBRD support, especially for energy security and private sector development, as Moldova shifts emphasis from crisis management to long-term development. According to the EBRD, Mark Bowman noted that Moldova, a candidate country for EU accession, has experienced economic shocks from the war in Ukraine and large-scale problems in the energy sector during the year. But as the effects of these crises begin to ease, Moldova's new Government is stepping up plans for the comprehensive reforms and investments needed to advance its EU accession ambitions. Last year, the EBRD provided Moldova with unprecedented assistance, increasing its funding five-fold, to more than EUR500 million. It included a EUR300 million loan last June to diversify the country's gas supply sources and allow it to buy gas on the European spot market. "We are keen to develop our support from the emergency provision of last year to help you through a very difficult situation and focus on what we can do to increase the longer-term resilience of Moldova and its economy to put you in a better place to deal with future events, whatever they may be," Mark Bowman said in a meeting with Prime Minister Dorin Recean. It was noted that the EBRD's three strategic priorities for Moldova in Country Strategy 2023-2028 are: strengthening energy resilience and security and promoting a greener economy; supporting competitive and inclusive private sector development, more resilient financial infrastructure and improved governance; and improving inclusive infrastructure delivery to support growth and enhance connectivity and trade. The EBRD is ready to offer Moldova further assistance in the energy sector, including in strategic long-term planning aimed at increasing the share of renewable energy in Moldova's energy mix. The EBRD will continue to support the Government in establishing a robust framework for renewable energy auctions for solar and wind energy projects. The Bank will support the Government in conducting the auctions. On March 30 in Chisinau, Mark Bowman signed an agreement on EUR 5.6 million grant from the Eastern Europe Energy Efficiency and Environment Partnership (E5P), in addition to loans of EUR 25 million each from the EBRD and the European Investment Bank for Moldova's first interregional solid waste management project. In addition, a loan agreement has been signed with ProCredit Bank Moldova, and the EBRD is providing it with a EUR 10 million loan to support investment financing for micro, small and medium-sized enterprises in Moldova to carry out upgrades in line with EU standards, enhance competitiveness and take advantage of international trade opportunities. In Chisinau, Mark Bowman also met with Deputy Prime Minister, Minister of Economic Development and Digitization, EBRD Governor in Moldova Dumitru Alaiba, Minister of Finance Veronica Sireteanu, Deputy Prime Minister, Minister of Foreign Affairs and European Integration Nicu Popescu, Minister of Infrastructure and Regional Development Lilia Dabija, Government General Secretary Artur Mija, Head of the Public Property Agency Alexandru Musteata and Governor of the National Bank of Moldova Octavian Armasu. He also held talks with representatives of other international financial institutions, Moldovan banks and civil society organizations, and met with Chisinau investment partners. // 31.03.2023 – InfoMarket
