Conditions in which EBRD and EIB will finance construction of Ungheni-Chisinau gas pipeline

20.05.2016 17:36
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Dimitri Gvindadze, the new Head of the Office of the European Bank for Reconstruction and Development (EBRD) in Moldova, said that if the Government fulfills all the assumed commitments, including the signing of a memorandum with the IMF, the EBRD and EIB will be ready to sign the agreement to finance the Ungheni-Chisinau gas pipeline, to the value of €90 million, by this yearend. The issue was discussed in a meeting of Prime Minister Pavel Filip and Dimitri Gvindadze earlier today, IPN reports.

According to the Government’s press service, the officials discussed the results of the cooperation with the EBRD local team, the investment programs in the energy sector, environment, road infrastructure and water and sewerage systems and the prospects of initiating new projects. In this connection, Pavel Filip noted that the launched programs are designed to meet the needs of the businesses and the people and also support the Government’s policies in these areas.

The Premier referred also to the usefulness of the support provided by the EBRD for strengthening the Economic Council under the Prime Minister, saying this represents an important platform for discussion with businessmen in identifying the problems and solutions to them. “You can count on our openness. I’m sure that we will have more investment projects and the Government will provide the whole support for eliminating possible difficulties in this regard,” stated Pavel Filip.

For his part, Dimitri Gvindadze said the EBRD will support the reforms initiated by the Government for stabilizing the macroeconomic situation by providing consultative support and technical assistance in working out policies and strengthening the Moldovan Government’s capacities to do reforms.

As regards the implementation of the project to interconnect the power lines on the Isaccea-Vulcanesti-Chisinau section, with a total budget of €140 million, the EBRD official confirmed the intention to provide €60 million for the purpose.

Currently, the EBRD implements in Moldova 48 projects to the value of €0.5 billion.