MOLDOVA TO RECEIVE AROUND 100 MILLION EUROS FOR INTERCONNECTION WITH EUROPEAN ENERGY SYSTEM

Three agreements, that imply receiving of financing for modernizing the country’s energy system and its connection to the European system, were signed in Chisinau on Thursday.

According to the documents, the funds will be directed to building a back-to-back station in Vulcanesti and 400 kV high-voltage power line to Chisinau. The International Development Association (IDA) will provide two grants for this purpose – 47.9 million euros and 13.1 million euros, while the European Bank for Reconstruction and Development (EBRD) will allocate 40 million euros for implementing the first stage of the project “Interconnection of Moldovan and Romanian Electricity Networks”.

According to Minister of Finance Natalia Gavrilita, these agreements are vital for raising Moldova’s energy security.

“The project is being elaborated by the Government, the EBRD, the European Investment Bank, the World Bank and the European Union and has a strategic character”, she said.

Ambassador Peter Michalko, Head of the European Union Delegation to Moldova regards the project as a step towards Moldova’s connection to European networks.

“He will make a tangible contribution to the country’s energy security. I am glad that the EU is supporting this project, which is important for your country and its people”, he said.

Head of the EBRD Office in Moldova Angela Sax said that the signing of the agreements confirmed the development partners’ support to reforms in Moldova.

World Bank Country Manager for Moldova Anna Akhalkatsi expressed hope that the works on the project will be conducted operatively in order that Moldovan citizens to sooner feel its advantages, including in what concerns tariffs.