The Ministry of Energy’s State Secretary, Constantin Borosan, stated that Energocom’s loan servicing, contracted directly from the EBRD, costs less than if the state accessed the credit itself. He made the remarks following the Government’s approval of the draft law providing state guarantees for the €400 million loan, as reported by IPN.
Borosan explained that Energocom’s direct financing saves the public budget and signals the company’s strong institutional capacity. “Today, Energocom contracts credit directly from the EBRD. It is a success that a state-owned company holds such a high reputation and can secure loans from international organizations. This loan does not count towards our country’s external debt,” he said on the public television program Pe Fata.
He recalled that in 2022, the state signed a similar agreement with the EBRD, which proved crucial for acquiring natural gas during a critical moment for Moldova’s energy security.
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“This loan supports the purchase of natural gas and electricity. In 2022, the state negotiated and signed a three-year agreement with the EBRD. That loan helped us buy natural gas when Gazprom stopped deliveries, ensuring citizens did not freeze or lose electricity,” Borosan added.
The Government will guarantee an external loan of up to €400 million, which Energocom will contract from the EBRD. The project’s information note divides the loan into three tranches: €170 million for Tranche I, €80 million for Tranche II, and €50 million for Tranche III.