The European Investment Bank (EIB), the bank of the European Union, in 2023 expects to provide loans to Moldova, blended with grants and technical assistance, of approximately €150 million to €170 million. The funding is expected to cover a wide range of projects focusing on energy efficiency and climate mitigation in line with the European Green Deal initiative in the region, responding to the country’s needs in the health and digitalization sectors, and investing in Moldova’s agri-food sector, IPN reports.
EIB Vice-President Teresa Czerwińska announced these new investments at the third ministerial conference of the Moldova Support Platform. The EIB’s investments will help Moldova mitigate the economic and social effects of Russia’s invasion of Ukraine, and support Moldova’s accession to the European Union.
EIB Vice-President Teresa Czerwińska, who is in charge of operations in Moldova, said that the EIB will continue to contribute towards an economically strong, energy-independent and green Moldova. “So far, we have done this by investing €280 million and mobilizing a further €16 million in grants for projects in the public and private sectors in 2022 alone. Next year, our priority will be investments in the energy and transport sectors, which will help Moldova achieve energy independence and integrate further with the European Union. We also plan to support healthcare projects that aim to ensure access to high-quality medical services,” stated Teresa Czerwińskа,”
Jānis Mažeiks, Ambassador of the European Union to the Republic of Moldova, said the European Union is pleased to have joined forces with the EIB in assisting Moldova during the present energy crisis. “To date, the EU contributed non-reimbursable funds of €64 million to joined EU-EIB initiatives. For the future, the EU already announced €250 million, of which €50 million is assisting the Country’s budgetary needs to overcome this winter period. Furthermore, the European Union is committed to support Moldova in connecting its transport infrastructure to the TEN-T. In the immediate future the EU will provide €20 million grant for the rehabilitation of railways, will facilitate Moldova’s participation in the Transport Community Treaty and will assist the country to develop its national mobility strategy,” noted the official.
The EIB has announced plans to provide some €30 million to a privately owned electricity distribution system operator in Moldova to finance the modernization, digitalization and expansion of the electricity distribution grid covering the central and southern part of the country, including the capital, Chisinau. In addition, a €12.4 million EU investment grant signed in 2022 will help the country implement an EIB project to improve the energy efficiency of public buildings, including hospitals, schools, kindergartens and other public institutions in Moldova.
The EIB has been active in Moldova since 2007. To date, it has invested over €1 billion in 26 projects across the country supporting EU policy priorities, including projects in the transport, energy, small and medium-sized enterprises, agriculture, municipal infrastructure (solid waste, water and wastewater) and services sectors of the Moldovan economy.
