Previous lending from the EBRD – revolving loan funds of €500 million – enabled Moldova to shift the country’s gas and electricity supply from European countries. This was also supported by a €34 million grant from the Norwegian government, as well as an extension of EBRD financing for power procurement in 2025.
The EBRD financing allowed Moldova to diversify its gas supply sources, increasing the EU’s share of supply to 20 percent in the winter of 2022-2023, following a reduction in gas supplies from Russia from 5 percent the previous year. Starting in 2023, Moldova imported all gas consumed from EU traders.
The new financing package consists of a €300 million working capital loan for energy purchases, as well as €100 million in guarantees to be issued by the EBRD on behalf of Energocom to eligible EU suppliers. These will be guaranteed by the Republic of Moldova and will allow the company to purchase natural gas and electricity, ensuring a continuous stable energy supply throughout the country.
Under this project, the EBRD continues to support energy sector reform in Moldova, helping to further develop competitive and open gas and electricity markets and the renewable energy sector through the implementation of the Contracts for Difference (CfD) support scheme. Compliance with Moldova’s ENERSAP 2.0 Energy Sector Action Plan will be an integral part of the EBRD’s financing agreements.
The EBRD is a leading institutional investor in Moldova, having financed a total of 183 projects worth over €2.5 billion.
