- Russia’s war in Ukraine has caused a number of supply disruptions in Europe.
- The European Bank for Reconstruction and Development has granted Moldova a loan of 300 million euros to strengthen its energy security.
- The loan could finance up to a fifth of the country’s planned gas imports for 2022.
The European Bank for Reconstruction and Development (EBRD) is lending Moldova 300 million euros ($316 million) to help it secure additional gas reserves that could offset potential supply disruptions caused by Russia’s war against Ukraine. Moldova, one of the poorest countries in Europe, depends almost entirely on Russian gas supplies for its industry and heating needs.
Russian energy giant Gazprom and Moldova have signed a gas delivery contract valid until 2026 after difficult price negotiations.
“The loan will finance up to a fifth of Moldova’s planned gas imports for 2022, which are vulnerable to potential disruption due to the war with Ukraine,” the EBRD said. said in a press release.
The loan to the government of pro-Western President Maia Sandu will be disbursed in two tranches: 200 million euros to avoid disruption and an additional 100 million euros to constitute a strategic reserve in Ukraine or Romania.
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“We work in the summer so we have fewer worries in the winter,” Deputy Prime Minister Andrei Spinu said. said in a Facebook post.
The EBRD said its loan would finance up to 20% of Moldova’s planned gas imports in 2022 and would be provided to state energy trader JSC Energocom to secure gas at EU hubs.
Moldova, sandwiched between Romania and EU and NATO member Ukraine, declared a state of emergency shortly after Russia’s unprovoked invasion of Ukraine.
The country has hosted hundreds of thousands of Ukrainian refugees since the start of the war.
On June 23, he received, together with Ukraine, an invitation start accession negotiations with the European Union.
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