The inflow of external public loans amounted to 12,221.3 million lei (equivalent to 714.8 million USD), representing the fulfillment of 95.4% of the expected annual amount of loans.
The Ministry of Finance publishes a report on the public debt for 2025 and provides data on the state’s credit portfolio by long-term projects, the maturity of borrowings, the state of debt and the conditions under which credit lines were opened last year.
Twelve funding agreements were entered into and ratified during 2025. Here is a list of them.
– Loan Agreement between the Republic of Moldova and the International Bank for Reconstruction and Development for the implementation of the Project on Support to Disaster Risk Management and Resilience Building in the Republic of Moldova. The loan amount is EUR 37.4 million, maturity 30 years, including a 5-year grace period, at a variable interest rate (Euribor 6m prime rate + variable margin), a loan origination fee of 0.25% calculated on the outstanding balance, and a one-time fee of 0.25% calculated on the loan amount. As of December 31, 2025, repayments on the loan account amounted to €0.1 million;
– Credit Line Agreement between the Republic of Moldova and the French Development Agency for the realization of the project “Initiative for the Development of Sustainable Public Infrastructure through Energy Efficient Reconstruction (INSPIREE)”. The loan amount is EUR 30.0 million, maturity – 15 years, including a grace period of 6 years, interest rate will be selected at the time of loan disbursement and can be fixed or variable (Euribor 6m + 0.9 percentage points margin), one-time fee of 0.5% of the loan amount, loan disbursement fee of 0.5% of the outstanding balance. As of December 31, 2025, repayments on the loan account amounted to €0.3 million;
– Financing Agreement between the Republic of Moldova and the International Bank for Reconstruction and Development for the implementation of the Program “Development Policy Operations in Support of Economic Opportunities and Climate Transition”. The loan amount is EUR 37.0 million, with a maturity of 30 years, including a grace period, at a variable interest rate (Euribor 6m prime rate + variable margin), a loan origination fee of 0.25% calculated on the outstanding amount and a one-time fee of 0.25% calculated on the loan amount. As of December 31, 2025, the loan was fully disbursed;
– Financing Agreement between the Republic of Moldova and the International Development Association for the implementation of the Program “Development Policy Operations in Support of Economic Opportunities and Climate Transition”. The loan amount is EUR 46.3 million, with a maturity of 25 years, including a grace period of 5 years, at a variable interest rate (Euribor 6m prime rate + variable margin). As of December 31, 2025, the loan was fully disbursed;
– Credit Agreement between the Republic of Moldova, the European Union and the National Bank of Moldova for the Reform and Growth Fund for the Republic of Moldova. The loan amount is EUR 1.5 billion, with a maturity of 40 years, including a grace period of 10 years, the interest rate is set separately for each tranche, depending on the financing costs incurred by the European Commission on the international markets. As of December 31, 2025, disbursements under the loan amounted to €288.9 million;
– Loan Agreement between the Government of the Republic of Moldova and the Government of the Kingdom of Belgium for the implementation of a decentralized water supply project. The loan amounted to EUR 12.0 million, with a maturity of 30 years, including a 10-year grace period, at a fixed interest rate of 1.5% per annum. As of December 31, 2025, no repayments have been made on the loan;
– Loan Agreement between the Republic of Moldova and the International Bank for Reconstruction and Development for additional financing of the project “Higher Education”. The loan amount is EUR 30.0 million, maturity – 30 years, including a 5-year grace period, at variable interest rate (Euribor 6 million prime rate + variable margin), loan origination fee – 0.25% calculated on the outstanding amount, one-time fee – 0.25% calculated on the loan amount. As of December 31, 2025, no repayments have been made on the loan account;
– Financing agreement between the Republic of Moldova and the European Investment Bank for the implementation of the project “Optimization of the district heating system in the municipality of Chisinau”. The loan amount is 143.5 million euros, repayment term – 25 years, including a 5-year grace period, the interest rate will be selected as appropriate.
