A financing package has been put together for a gas interconnection between Moldova and Romania.
And as part of the package, the Moldovan government has agreed to implement a comprehensive reform package to promote the liberalisation of the energy market and strengthen competition in the sector.
The package has been €92m ($95m) package has been put together by the European Union, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).
The EIB and the EBRD are each lending €41m and the EU is providing a €10m.
EIB vice-president Jan Vapaavuori said the project “contributes to the diversification of the energy resources for the Republic of Moldova, a country dependent on energy imports. This will help to increase the energy security and support both the liberalization of the gas market in the country as well as its integration in the European energy system.”