The EIB will provide a package of technical assistance and advice worth €100 million for priority investments in recovery and resilience in Ukraine and Moldova.
This is provided for by the corresponding Memorandum of Agreement, which was signed by the directorate of the European Investment Bank, specializing in development finance, EIB Global, with the Government of Moldova within the framework of the donor conference “Platform to Support Moldova”. The new memorandum of understanding signed between the EIB and the Government of Moldova represents the consolidated commitment needed to develop a significant portfolio of projects needed for the country and its people. The purpose of the document is to provide advisory services and technical assistance to promote investment projects in key sectors such as transport, energy, environment, and micro, small and medium-sized enterprises (SMEs). As a result of the regional instability caused by the war in Ukraine, Moldova is expected to receive up to 15% of the EIB's €100 million technical assistance and advisory package, financed from its own resources. The package, part of the Bank's "EU for Ukraine" initiative, will underpin priority investments in recovery and resilience in Ukraine and Moldova. It is designed to help the two countries overcome the problems caused by the war in Ukraine, as well as provide vital support as they prepare to join the EU. The Memorandum of Agreement reinforces the commitment of the EIB and the Government of Moldova to intensify cooperation in preparing a significant portfolio of critical projects for Moldova and its people. Further EIB investment in projects based on advisory support and technical assistance will be based on detailed EIB analysis, required approvals and compliance with standards throughout the project life cycle, from concept to implementation. EIB Vice-President Teresa Czerwińska, who is responsible for the bank's operations in Moldova, said that Russia's ongoing war against Ukraine affects Moldova deeply and widely. “As an EU bank, we express our unconditional support for Moldova. Our goal is to catalyze the recovery of Moldova’s economy and facilitate its preparation for accession to the EU. In line with Moldova's national priorities and needs, the EIB remains steadfast in its commitment to the country, in particular helping to implement important long-term policy reforms and addressing urgent infrastructure needs. “I am confident that the current commitment to providing advisory services and technical assistance will allow us to develop nationally relevant projects that will not only help Moldova overcome the challenges of these difficult times, but also accelerate its path to EU accession,” she emphasized. In turn, the Secretary General of the Government of Moldova Artur Mija expressed gratitude to the European Investment Bank for the partnership and the signing of this memorandum. He noted that advisory and technical assistance is essential in the preparation and implementation of critical projects for priority sectors such as transport, energy, environment and small and medium-sized enterprises. “These initiatives are vital and make a significant contribution to the well-being of our citizens and the development of our country as we move towards EU integration,” emphasized Artur Mija. Since the EU began its work in Moldova in 2007, the EIB has committed more than €1.19 billion to 33 projects, supporting EU policy objectives in many sectors: transport, energy, SMEs, agriculture and municipal infrastructure. 2022 was a record year for the EIB in Moldova, which offered €250 million in new loans signed with the public sector. In 2023, the EIB provided its first corporate loan in Moldova, a €30 million project with Premier Energy Distribution, the main private electricity distribution operator in Moldova, to improve the quality and reliability of the electricity grid. EIB Global is a new specialized area of the EIB Group, which aims to improve the effectiveness of international partnerships and development finance outside the European Union. EIB Global is committed to building a strong and focused partnership within the Team Europe initiative and within the framework of the EU Global Gateway strategy, along with other development finance institutions and civil society. // 17.10.2023 — InfoMarket.
