The bill to ratify the Loan Agreement on the Security of Natural Gas Supplies between the Republic of Moldova and the European Bank for Reconstruction and Development (EBRD) was adopted as a matter of urgency after being given two readings. The €300 million loan will be used to urgently purchase natural gas to ensure Moldova’s energy security and the safe supply with energy resources during the cold period of the year, said Dumitru Alaiba, the head of the Parliament’s commission on economy, budget and finance, being quoted by IPN.

According to Dumitru Alaiba, Moldova can face problems in the supply with energy resources, namely of natural gas from Gazprom, and this fact should not be ignored. This loan will also help the country to diversify the energy supply sources and to find alternative sources of natural gas.

“This instrument will become available as a matter of urgency. It will be possible to make reserves of natural gas for the Republic of Moldova for the cold period of the year in neighboring countries, like Romania, for example,” the MP told a news conference.

He noted that the Republic of Moldova is the only country on the European continent that is almost 100% dependent on energy from one source - Gazprom. “100% of the natural gas and 80% of the electricity we consume, produced from natural gas, depend directly on Gazprom,” stated Dumitru Alaiba.

The loan will be disbursed in two tranches of €100 and €200 million respectively.