The bill to ratify the lending agreement between Moldova and the European Investment Bank for the interconnection of the electric power networks of Moldova and Romania was ratified by Parliament on July 13. The EIB will provide a loan of €80 million for the purpose, IPN reports.

The project envisions the construction, equipment and placing into operation of the electricity interconnections between Moldova and Romania, which consist of a Back-to-Back station in Vulcanesti, a 400kV power transportation line between Vulcanesti and Chisinau, the extension of the station in Chisinau and of the station in Vulcanesti, of 400kV.

The total cost of the project “Construction, equipment and placing into operation of the electricity interconnections between the Republic of Moldova and Romania” is €270 million. The amount includes loans from the EBRD and EIB of €80 each, €70 million in financing from the World Bank and a grant of €40 million from the EU’s NIF.

According to the informative note to the bill, the project will enable to choose between the power supply sources from the East and from the West without constraints. The choice will be based only on the price and will be independent from the developments on the Ukrainian market.