The Parliament’s commission on economy, budget and finance approved the report, while the commission on foreign policy and European integration accepted the co-report on the bill to ratify the loan agreement between the Republic of Moldova and EBRD that was signed on June 23, 2022. Under the document, Moldova will raise a €300 million loan from the European Bank for Reconstruction and Development for creating gas reserves for emergencies and for diversifying the supply sources, IPN reports, quoting the Parliament’s press service.

By ratifying the loan agreement, the risks related to the possible limitations or halts in the supply of gas due to the political and energy sector developments in the region will be diminished.

The loan will be disbursed in two tranches of €100 million and €200 million. The money is necessary for implementing the project “Security of Natural Gas Supply”. The bill to ratify the agreement is to be adopted by Parliament.