Early Warning System

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

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

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

Mar 6, 2024

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

Government of Moldova

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy

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)

$ 34.88 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 32
Converted using 2024-03-06 exchange rate.

Loan Amount (USD)

$ 34.88 million

Project Cost (USD)

$ 87.20 million

Bank Documents

Other Related Projects

EBRD-47087 Moldova Romania Power Interconnection Phase I

Primary Source

Original disclosure @ EBRD website

Updated in EWS Dec 16, 2024

Disclosed by Bank Oct 2, 2023

Contribute Information
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.

PROJECT DESCRIPTION

According to the Bank’s website, the project consists of up to EUR 33.3 million sovereign loan to the Republic of Moldova, to be on-lent to Moldelectrica, for the (i) construction of a high-voltage electricity transmission line between the city of Balti on the Moldovan territory and the Romanian border, (ii) construction of Balti 400kV substation, (iii) rehabilitation of the existing domestic power transmission network of Moldova, and (iv) refinancing of the outstanding balance under the existingMoldova Romania Power Interconnection Phase Iproject after the cancellation of the unutilised portion of that loan (collectively, the "Project").

Moldova Romania Power Interconnection Phase I

Total Project cost of EUR 81.3m will be co-financed by a parallel loan from the European Investment Bank ("EIB") of EUR 32 million and the EUR 16 million EU Neighbourhood Investment Platform ("EU NIP") grant. The EU NIP grant will be repurposed from the larger grant approved under the EBRD'sMoldova Romania Power Interconnection Phase Ifollowing the cancellation of the undrawn amounts under the project.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

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.

COMPANY CONTACT INFORMATION

Octavian Ciobirca
octavian.ciobirca@moldelectrica.md
+373 22 253 548
+373 22 253 142
https://moldelectrica.md/ro/
78, V. Alecsandri Str., Chisinau, Republic of Moldova

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