French Development Agency to earmark 60 million euros for sustainable energy in Moldova

Chisinau, 29 October /MOLDPRES/ - Moldova and the French Development Agency (AFD) on 28 October signed a credit facility agreement worth 60 million euros, which will help the country promote the renewable energy, enhance the sustainability of the railway sector and to attenuate the impact of the energy crisis on the disadvantaged families.

According to the Moldovan Finance Ministry, for short term, this budgetary support for the implementation of policies is a response to Moldova’s immediate needs of financing, in the context of the Ukrainian crisis (increase in prices for energy, flow of refugees). ‘’For medium term, this programme will support the regulatory reforms, which contribute to the convergence to the EU standards and norms, to the diversification of the energy sources and de-carbonization of Moldova’s economy,’’ according to the quoted source.    

At the ceremony on the agreement’s signing, AFD Director General for Eurasia Cécile Couprie said that ‘’the support for Moldova and its European trajectory, in the present context, is of greatest importance and will be on the agenda of the forthcoming Moldova Support Conference, due in Paris.’’

For his part, Finance Minister Dumitru Budianschi said that ‘’the AFD programme, in parallel with the World Bank’s programme of operations for development policies, will help Moldova cope with the budgetary crisis and the energy one.’’  

Till the end of 2022, AFD will sign and allocate 75 million euros as budgetary support for Moldova.

Photo: Finance Ministry