EBRD, EIB Lend €644M to Moldova for Energy, Healthcare Upgrades

The European Bank for Reconstruction and Development (EBRD) has extended a €400 million loan package to Moldova’s state energy trader Energocom to secure natural gas and electricity supplies from European markets, enhancing the country's energy security amidst disruptions caused by Russia's war on Ukraine and Gazprom's halted deliveries. This package includes a €300 million senior working capital loan and €100 million in guarantees backed by the Moldovan state to facilitate energy purchases from eligible EU suppliers. Additionally, the European Investment Bank’s development arm (EIB Global) is providing more than €244 million in loans for critical infrastructure projects, including a €143.5 million upgrade of Chisinau’s district heating system and a €101 million construction of a new hospital in the southern city of Cahul. The district heating modernization, led by Moldova’s largest heating company Termoelectrica, aims to reduce energy consumption by 25%, cut greenhouse gas emissions by 7%, and lower heating bills for approximately 300,000 households. These initiatives reflect Moldova's ongoing efforts to diversify its energy sources, improve public services, and align with European Union standards as it advances toward EU membership. Both EBRD and EIB Global support Moldova's reforms and infrastructure upgrades as part of broader European strategic and humanitarian assistance.