The EBRD will provide Moldova with a €400 million loan to ensure energy security, with investments in our country totaling over €2.5 billion under 183 projects up to date
The European Bank for Reconstruction and Development (EBRD) announced this, informing about the provision of a €400 million loan to the Moldovan state energy trader Energocom to enhance the country's energy security through the purchase of gas and electricity on European markets. As noted, this loan is an important milestone in the successful diversification of Moldova's energy supply sources, and the agreement covers strategic purchases of gas and electricity. It is emphasized that, without own energy sources or gas storage facilities, Moldova, which is now a candidate for EU membership, has historically been heavily dependent on gas imports from Russia via Ukraine. The country has no access to the sea and no significant mineral or energy resources. Natural gas accounts for 31% of its energy balance, with 70% of gas consumed by households and district heating companies. The start of Russia's war with Ukraine created the threat of acute energy shortages. However, progress in the implementation of the EU's Third Energy Package and the commissioning of a gas pipeline between EU member Romania and Moldova in 2021 following the construction of the Ungheni-Chisinau gas pipeline, co-financed by the EBRD, provided Moldova with the necessary funds to switch to energy supplies from European hubs. Previous EBRD lending – a €500 million revolving loan facility, including a €34 million grant from the Government of Norway, as well as the extension of EBRD financing for electricity procurement in 2025 – contributed to the change of course. The EBRD financing has enabled Moldova to diversify its gas supply sources, increasing the EU's share of supplies to 20% in the first winter after the war began, compared to 5% a year earlier. Since 2023, Moldova has imported all its gas from European traders. The new EBRD financing package includes a €300 million working capital loan for energy purchases and €100 million in guarantees that the EBRD will provide on behalf of Energocom to EU suppliers. The guarantees will be provided to Moldova and will enable the company to purchase natural gas and electricity, ensuring uninterrupted and stable energy supplies throughout the country. Through this project, the EBRD continues to support the reform of Moldova's energy sector, contributing to the further development of competitive and open gas and electricity markets, as well as the renewable energy sector through the introduction of Contracts for Difference (CfD) support scheme. Compliance with the ENERSAP 2.0 Energy Sector Action Plan will be an integral part of the EBRD's financing agreements. The EBRD is the leading institutional investor in Moldova and has invested over €2.5 billion in the country under 183 projects to date. // 09.07.2025 - InfoMarket
