EBRD lends Moldova USD 316 million for gas reserves

RUSSIA / FSU POLITICS - In Brief 24 Jun 2022 by Alex Teddy
On June 24 the European Bank for Reconstruction and Development made the announcement. Moldova is vulnerable to having gas supplies from Russia cut off. It is almost totally reliant on Russian gas. Moldova is the poorest country in Europe after Ukraine.  The loan will cover 20% of Moldova's gas import needs. Two-thirds of the gas reserves will be held in Moldova. The remaining third will be held in either Romania or Ukraine both of which border Romania.  Moldova has received hundreds of thousands of Ukrainian refugees, although many have continued further west. The loan is a tangible benefit of Moldova's new candidate EU member status. Gazprom has a contract with Moldova that runs to 2026. But since 2020 Gazprom has been reducing gas sales to various countries in a way that seems to be about political pressure.

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