Moldova: EIB invests $30 million to modernise electricity distribution grid
The European Investment Bank, through its dedicated development finance arm EIB Global, is backing the four-year programme of investment in the Moldovan electricity distribution sector with US$30 million.
The programme will be implemented by ICS Premier Energy Distribution, Moldova’s largest private electricity distribution system operator, which serves about 70% of the country. The EIB finance will contribute to the modernisation, digitalisation and expansion of the electricity distribution grid in the central and southern part of Moldova, including the capital Chisinau.
The loan will help Premier Energy Distribution transform a conventional distribution grid into a digital smart grid, ensuring security of supply and improving services to end users.
The project is co-financed by the European Bank for Reconstruction and Development (EBRD) via a parallel loan for an equal amount of US$30 million.
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