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The EBRD and the EIB will provide a $60 million loan to Premier Energy Distribution to finance the company's investment program for 2022-2025.

The EBRD and the EIB will provide a $60 million loan to Premier Energy Distribution to finance the company's investment program for 2022-2025.

As noted in the message of the European Bank for Reconstruction and Development, in particular, a decision on the provision of a secured loan of the first stage in the amount of up to $30 million to Premier Energy Distribution is planned to be made on October 19. The total investment program will amount to $60 million and will be co-financed by a parallel loan from the European Investment Bank for a similar amount. The transaction will be implemented within the framework of the EBRD's Green Cities concept, stemming from the Green City Action Plan for Chisinau, which was approved by the municipal council in May 2020. According to the EBRD, the purpose of the financing is to support Premier Energy in the modernization and renewal of the distribution network. The program aims to strengthen the network, improve energy efficiency, improve substation safety standards, and modernize the telecommunications infrastructure. The Green Cities Framework 2 (GCF2) is a strategic multi-project approach aimed at identifying and addressing environmental issues in selected major cities in the EBRD's countries of operations. The deal is expected to enable Premier Energy to improve the reliability of the power grid in Chisinau and reduce losses. In addition, the deal will support competitiveness as the focus of this investment is to modernize the electricity distribution network and improve energy management, ie focus on increasing productivity. Premier Energy is the only private electricity distribution system operator in Moldova that maintains and operates the distribution network in the central and southern parts of the country, including Chisinau, with a total length of 35,642 km and provides connections to more than 820 thousand consumers, resulting in its share in the domestic market of about 70%. Premier Energy, Navitas and Premier Energy Distribution are part of the Premier Energy group, one of the most important players in the energy market in Romania and Moldova. Premier Energy Group operates in Romania and Moldova in the distribution of natural gas and electricity and is controlled by the Czech EMMA Capital Group, owned by Czech millionaire Jiří Šmejc. // 13.09.2022 — InfoMarket

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