Moldova to borrow €80 million from European Investment Bank

14:31 | 13.07.2018 Category: Economic

Chisinau, 13 July /MOLDPRES/ – The Parliament ratified today the Financing Agreement of Moldova and European Investment Bank (EIB) on Moldova – Romania electricity interconnection, signed in Chisinau on 20 December 2017.

The grant agreement provides for a €80 million EIB loan for construction and development of infrastructure needed to interconnect the electricity grids in Romania and Moldova.

The money will be given to authorities in 20 installments. The commissions and interest will be calculated for each installment, based upon deposit rate. The loan term is 25 years.

For full implementation of asynchronous interconnection project of electricity system of Moldova with Romania, in a phased approach, it will be used €270 million, including €80 million loans offered by EIB, €80 mln – European Bank for Reconstruction and Development (EBRD), €70 mln – World Bank (WB) and €40 mln offered as grant by EU.

(Reporter A. Zara, editor A. Raileanu)

Any material published on the website of the Public Institution ’’A.I.S. Moldpres’’ (Moldpres News Agency) is intellectual peoperty of the Agency, protected by the copyright. The taking over or/and use of these materials will be made only with the Agency’s agreement and with compulsory reference to source.