Moldova to receive financial assistance on behalf of top European Bank, Norwegian government to consolidate energy security

16:35 | 22.12.2023 Category: Economic

Chisinau, 22 December /MOLDPRES/ - The government of Norway and the European Bank for Reconstruction and Development (EBRD) will provide Moldova with financial assistance for carrying out the project, Moldova Gas Security Supply. In this respect, the parliament today ratified an agreement on grant and another one on loan.

Thus, the Norwegian government will provide to Moldova, through EBRD, a grant worth 34 million euros. Thus, the European Bank for Reconstruction and Development will provide a loan worth 165 million euros. The financial resources will be used both for purchasing natural gas reserves and for diversifying the resources. All natural gas consumers of Moldova will be beneficiaries of the project.

The project, Moldova Gas Security Supply, will be implemented through the Energocom stock company – a company in which the state holds the controlling stake. The implementing unit will buy and store natural gas in underground deposits from the neighbour countries on the warm period of the year, when the price for the natural gas is low. The procurements of natural gas will be made based on the tenders organized according to the procedure pre-established by EBRD.

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