The Republic of Moldova will contract a loan of 120 million euros from the French Development Agency. The money will be invested in the energy sector
The Republic of Moldova will contract a loan under preferential conditions, of 120 million euros over 5 years, from the French Development Agency. Also, our country will also benefit from a grant, worth 5 million euros, from the EU. The money will be invested in several projects based on the implementation of reforms in the energy sector.
The Ministry of Energy, Finance, Environment, Labor and Social Protection signed today a Memorandum of Understanding with the French Development Agency for the reform of the energy sector. It provides for several measures to improve energy efficiency, including at the level of public buildings, declared the Minister of Energy, Victor Parlicov.
"Our priorities on the energy dimension aim at accelerated decarbonisation, meaning first of all investing in the energy efficiency of buildings, the transition to electric transport and a better capacity to integrate renewable energy into the grid. We will try to invest the funding we will receive from the French Development Agency in these priorities", said Victor Parlicov.
Energy is a strategic topic for the Republic of Moldova, and France is providing support on several levels to increase the country's energy independence, said the executive director of the French Development Agency, Philippe Orliange.
"France provides multifaceted assistance to the energy sector by delivering 29 high-capacity generators for Moldovan hospitals, through investment projects and also for concrete support for the reforms undertaken. Even if important progress has been made in recent months, much remains to be done to improve resilience and energy security and to adapt to European norms and standards", said Philippe Orliange.
According to the Ministry of Energy, the disbursement of 40 million euros is expected from the 120 million euro loan for this year. The loan mechanism depends on the fulfillment of certain conditions, among which is cooperation in the field of renewable energy. The Republic of Moldova aims for electricity from renewable sources to reach 30 percent of the total by 2030.
