The Government endorsed the ratification of the lending agreement between Moldova and the European Bank for Reconstruction and Development (EBRD) for implementing the project “Thermoelectric System of the Municipality of Bălți (SA CET-Nord)”, phase II. The document was signed in Chisinau on December 24, 2021, IPN reports.

To implement the project, Moldova raised a €15 million loan, €14 million of which is a sovereign loan from the EBRD, while €1 million is a concessional loan from the Green Climate Fund. The money will go to implement the investment component (€8.5m) and to refinance the historical debt (€5.5m).

The loan agreement is an interstate treaty valid to 15 years. The grace period is three years.

Also, the Eastern Europe Energy Efficiency and Environment Partnership (E5P) will provide a grant of €2 million