French Development Agency to financially support modernization of Moldova's energy infrastructure

Chisinau, 8 November /MOLDPRES/ - Moldova will benefit from a loan worth 25 million euros and a grant of 1.2 million euros on behalf of the French Development Agency (AFD). The country will receive a loan amounting to 120 million dollars on behalf of Canada. The MPs today ratified more documents to this end.  

According to loan facility agreement between Moldova and AFD, Moldova will benefit from a loan of 25 million euros and a grant of 1.2 million euros. The loan’s maturity is of 15 years, including a grace period of five years. The return of the loan will be made once in half a year, in 20 equal instalments. The money is meant for the implementation of reforms in the energy infrastructure sector, energy efficiency, renewable energy, consumers’ protection and environment.  

Also today, the lawmakers ratified the loan facility agreement between the Finance Ministry of Moldova and His Majesty King of Canada. The loan will be provided to finance the needs of the state budget and supply the Programme provided by the World Bank titled, Supporting Growth and Resilience Development Policy Operation Project for Moldova. The money will be used for consolidating the resilience of households, promotion of sustainable economic growth through the enhancement of the competition and of the growth generated by the private sector and backing the climate resilience and transition to the green energy. The loan will be disbursed in two installments. The loan’s maturity is of ten years, including the grace period of three years.