Moldovan government proposes to grant a number of benefits to Enegrocom JSC in the implementation of the "Security of Natural Gas Supply" project.
The government has approved a draft law on releasing Enegrocom JSC from the obligation to guarantee the repayment of the re-credited financing and providing tax and customs privileges for the import and delivery of goods (goods, works and services) intended for the project "Security of Natural Gas Supply". It is worth mentioning that an agreement on financing "Security of Gas Supply" project was signed on June 23, under which Moldova will get a 300-million-euros loan from EBRD for purchase and storage of natural gas. The loan will be provided to Moldova in two tranches: the first 100 million euros will be used to buy gas, in order to create the state gas reserve this summer; the second 200 million euros is to be used for urgent purchases of gas, if necessary, in 2022-2025. At the same time, the second, "emergency" tranche will not be allocated by the EBRD at the stage of signing and ratifying the loan agreement, but will be provided upon request, in case of emergencies. A prerequisite for the entry into force of this agreement is the signing of a On-Lending Agreement between the Ministry of Finance and Enegrocom JSC, with the latter to guarantee repayment of the loan by entering into a pledge agreement. However, Enegrocom, the central supplier of electricity, does not have sufficient assets to cover the amount stipulated in the agreement and the refinancing. The government proposes, as a derogation from statutory norms, to exempt Enegrocom from the obligation to guarantee the repayment of the on-lended financing under the "Security of Natural Gas Supply" project. Also, as a derogation from the norms of the legislation, it was proposed to exempt the company from paying VAT without the right to a deduction, from excises, customs duties and fees for customs procedures, fees for goods polluting the environment, fees for import of goods, works and services related to implementation of the project. The bill has to be approved by the parliament. // 14.07.2022 - InfoMarket
