Moldova to receive 220 million dollars to strengthen energy security
13:02 | 17.05.2023 Category: Official
Chisinau, 17 May /MOLDPRES/ - Moldova will benefit from financial resources in grant, in order to consolidate its energy security and reimburse the expenses for the procurements of electric energy.
In this respect, the cabinet of ministers approved the starting of negotiations and the signing of the 15th Amendment to the agreement on assistance concerning the development goal between the governments of Moldova and the United States for sustainable economic growth, anchored in the European integration, the government’s communication and protocol department has reported.
The amendments provides for an additional allocation worth 220 million dollars, as non-refundable contribution within the agreement on the consolidation of Moldova’s energy security, through the connection of the key elements of the energy sector with the European systems.
Concomitantly, the Amendment envisages the establishment of the terms and conditions as to the non-refundable budgetary support worth 76.8 million dollars, which is to be provided to the United States Agency for International Development (USAID), through the Fiduciary Fund established by the World Bank. This budgetary support will ensure the reimbursement of the expenses for the procurements of electric energy from providers of Ukraine and ENTSO-E (European Network of Transmission System Operators) for the period September 2022-March 2023.
Following the aforementioned additional allocations, the agreement’s overall budget will amount to 392.7 million dollars – total non-refundable contribution of the U.S. government within the pre-noted treaty, from which over 80 million dollars has been already turned to account.
The concerned amendment will be signed by the Finance Ministry and USAID and it will be ratified by Moldova’s parliament.