Moldova Energy Security 2025 (EBRD-56466)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Moldova
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 11, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
JSC Energocom
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 460.41 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 400
Converted using 2025-06-11 exchange rate.
Loan Amount (USD)
$ 460.41 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 400
Converted using 2025-06-11 exchange rate.
Project Cost (USD)
$ 460.41 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 400
Converted using 2025-06-11 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 1, 2025

Disclosed by Bank Jun 29, 2025

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Can you contribute information about this project?
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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EBRD, the project consists of a EUR 300 million senior revolving loan and a EUR 100 million Standby Letter of Credit, in the combined amount of up to EUR 400 million in favour of JSC Energocom, a state-owned energy trader in Moldova. This financing replaces two expiring facilities from 2022 and 2023.

The project aims to strengthen Moldova's energy security by enabling continuous acquisition and supply of gas and electricity.

The project supports Moldova's energy security by enabling spot and fixed-term energy purchases. Advances sector reforms under the new Energy Reform Action Plan (ENERSAP 2.0), including improvements in gas, electricity, and renewable energy markets. The Bank provided financing facility to maintain a reliable energy resources supply of vital energy services, including in advance of the main heating season for the population of Moldova.

The risks are mainly related to the safety of gas transportation and technical integrity of the gas storage and distribution infrastructure. The gas will be transported via the existing infrastructure, owned and operated by a third party, and the Bank has no leverage over the offtake of the gas and its distribution by the monopoly gas distribution company. Given the strategic nature of the gas transportation infrastructure and the high cost of gas, it is expected that regular maintenance and repairs are conducted to ensure that the guaranteed volume of gas is transported via the pipeline with no losses.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EBRD, Energocom JSC is a 100% state-owned enterprise established by the GoM in 2005 as an electricity importer and domestic electricity supplier.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Energocom Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - JSC Energocom:

Eugeniu Buzatu
Email: office@energocom.md
Phone: +373( 22) 214133
Fax: +373( 22) 214133
Website: https://energocom.md
Address: Serghei Lazo street 17/1 Chisinau, Republic of Moldova, MD-2012

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html

How it works

How it works