EBRD Lends €400 Million to Moldova to Secure Energy Supply

The European Bank for Reconstruction and Development lends €400 million to JSC Energocom to diversify Moldova's gas and electricity supply, historically dependent on Russian imports via Ukraine.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Moldova, a landlocked country with no significant domestic energy resources or gas storage capacity, has secured a strategic loan from the European Bank for Reconstruction and Development (EBRD) totaling €400 million. This financing, allocated to the state-owned Moldovan company JSC Energocom, primarily aims to guarantee national energy security by enabling the advanced purchase of natural gas and electricity from European suppliers. Historically reliant on Russian gas transported via Ukraine, Moldova has been increasing its energy diversification since the outbreak of the Russo-Ukrainian conflict to reduce its energy dependency on Moscow. Natural gas currently accounts for approximately 31% of Moldova’s energy mix, with 70% of it used by households and district heating systems.

Loan Terms and Conditions

The financing provided by the EBRD includes a €300 million revolving credit line for working capital needed for energy purchases. It is accompanied by a €100 million guarantee facility issued by the EBRD on behalf of Energocom to eligible European suppliers. The entire loan is backed by a Moldovan state guarantee to ensure the national energy supply. This financial arrangement follows previous funding from the EBRD, including a previous revolving loan of €500 million, which included a €34 million grant from the Norwegian government. This series of loans enabled Moldova to achieve 100% of its gas imports from European traders by 2023, up from just 5% in 2021.

Strategic Infrastructure and Diversification

This new operation comes after the successful commissioning of the Ungheni-Chisinau gas pipeline in 2021, a major infrastructure project co-financed by the EBRD, connecting Moldova to Romania. This strategic connection has enabled rapid diversification of Moldova’s gas supply, facilitating the shift from Russian energy hubs to those of the European Union (EU). Additionally, Energocom will now be able to acquire electricity directly from European markets through this extended financing, starting in 2025, providing another lever to stabilize its national supply. The securing of Moldova’s energy supplies is also aligned with the country’s potential EU membership, as it continues to comply with EU energy standards, particularly through the implementation of the EU’s Third Energy Package.

Energy Sector Reforms and Competitiveness

Through this financing, the EBRD continues to support active reforms in Moldova’s energy sector, particularly through the implementation of the Moldovan Energy Sector Action Plan (ENERSAP 2.0). This plan includes mechanisms such as Contracts for Difference (CfD), aimed at fostering the development of competitive markets in gas, electricity, and renewable energy sectors. To date, the EBRD remains one of Moldova’s leading institutional investors, having invested over €2.5 billion in the country through 183 projects across its territory.

Commissioner Dan Jørgensen visits Greenland to expand energy ties with the European Union, amid plans to double EU funding for the 2028–2034 period.
European and Iranian foreign ministers meet in New York to try to prevent the reinstatement of UN sanctions linked to Tehran’s nuclear programme.
Canadian Prime Minister Mark Carney announces a bilateral agreement with Mexico including targeted investments in energy corridors, logistics infrastructure and cross-border security.
The US president has called for an immediate end to Russian oil imports by NATO countries, denouncing a strategic contradiction as sanctions against Moscow are being considered.
Tehran withdrew a resolution denouncing attacks on its nuclear facilities, citing US pressure on IAEA members who feared suspension of Washington’s voluntary contributions.
Poland’s energy minister calls on European Union member states to collectively commit to halting Russian oil purchases within two years, citing increasing geopolitical risks.
Athens and Tripoli engage in a negotiation process to define their exclusive economic zones in the Mediterranean, amid geopolitical tensions and underwater energy stakes.
European powers demand concrete steps from Tehran on nuclear issue or United Nations sanctions will be reinstated, as IAEA inspections remain blocked and tensions with Washington persist.
Brussels confirms its target to end all Russian energy imports by 2028, despite growing diplomatic pressure from Washington amid the ongoing conflict in Ukraine.
Donald Trump threatens to escalate US sanctions against Russia, but only if NATO member states stop all Russian oil imports, which remain active via certain pipelines.
The two countries agreed to develop infrastructure dedicated to liquefied natural gas to strengthen Europe's energy security and boost transatlantic trade.
Ayatollah Ali Khamenei calls for modernising the oil industry and expanding export markets as Tehran faces the possible reactivation of 2015 nuclear deal sanctions.
The Ukrainian president demanded that Slovakia end its imports of Russian crude, offering an alternative supply solution amid ongoing war and growing diplomatic tensions over the Druzhba pipeline.
The United States cuts tariffs on Japanese imports to 15%, while Tokyo launches a massive investment plan targeting American energy, industry, and agriculture.
Brazil’s Cop 30 presidency aims to leverage the Dubai commitments to mobilise public and private actors despite ongoing deadlock in international negotiations.
Brasília has officially begun the process of joining the International Energy Agency, strengthening its strategic position on the global energy stage after years of close cooperation with the Paris-based organisation.
During a meeting in Beijing, Vladimir Putin called on Slovakia to suspend its energy deliveries to Ukraine, citing Ukrainian strikes on Russian energy infrastructure as justification.
Vladimir Putin and Robert Fico met in China to address the war in Ukraine, regional security and energy relations between Russia and Slovakia.
Slovak Prime Minister Robert Fico plans to meet Vladimir Putin in Beijing before receiving Volodymyr Zelensky in Bratislava, marking a diplomatic shift in his relations with Moscow and Kyiv.
The three European powers activate the UN sanctions mechanism against Iran, increasing pressure on the country's oil exports as Tehran maintains high production despite Western measures.

Log in to read this article

You'll also have access to a selection of our best content.

[wc_register_modal]