EBRD, EIB offer EUR 92 mln for Romania-Moldova gas pipe

The European Union, the European Bank for Reconstruction and Development (EBRD), and the European Investment Bank (EIB) have offered a funding package of EUR 92 million for the construction of a gas pipeline from Romania to Moldova in order to strengthen Moldova’s energy security. EIB and EBRD each lend EUR 41 million for this project and the EU provides a EUR 10 million grant. The funds will be sent to the state-run company Vestmoldtransgaz that will build and operate the pipeline and the interconnector between Romania and Moldova. Following this project, the process of connecting the gas transport systems of Romania and Moldova will be completed. Chisinau will be connected to the interconnector linking Iasi, a city located in the east of Romania, to Ungheni, a city in Moldova, located on the border with Romania. The interconnector was built in 2014 to allow Moldova, a country that heavily relies on imports of energy to diversity its energy sources. The EU also offered a EUR 7 million grant for building this interconnector. editor@romania-insider.com