The bill on transparent energy market based on which the World Bank will offer Moldova a loan of €70 million is close to being finished. The subject was discussed in a meeting of Minister of Economy and Infrastructure Chiril Gaburici and a team of World Bank experts led by the WB Country Manager for Moldova Anna Akhalkatsi, who are paying a working visit to the Republic of Moldova, IPN reports, with reference to a press release of the Ministry.

Chiril Gaburici reiterated that the ensuring of energy security, including by diversifying the access ways to energy resources, is one of the priorities. This objective can be achieved by implementing projects to interconnect the thermoelectric and natural gas systems of Moldova and the EU though Romania’s systems.

The main components that were already agreed include the construction of a back-to-back station in Vulcanesti and a 400 kV power line between Vulcanesti and Chisinau and the extension of the transformer station in Chisinau. Such additional components as the modernization of the networks by installing fiber-optic communications, provision of technical assistance and strengthening of capacities of employees working in the energy sector will also be added to the project.

The estimated cost of the project is about €270 million. Last yearend, Moldova signed agreements with the European Bank for Reconstruction and Development and the European Investment Bank for financing the interconnection of Moldova’s power networks with Romania’s. The EBRD and EIB will lend by €80 million each. Furthermore, last summer the EU approved the grant component worth €40 million that will be financed with funds from the Neighborhood Investment Facility.