Brussels, 02/07/2012 (Agence Europe) - In Luxembourg on Wednesday 27 June Vladimir Filat, Prime Minister of the Republic of Moldova, and the president of the European Investment Bank (EIB), Werner Hoyer, signed a loan contract for €17 million, which will be used to finance the rehabilitation of Moldova's power transmission network.
The loan will help increase the capacity and improve the reliability of the Moldovan electricity transmission system, bringing it more closely into line with the standards of the European Network of Transmission System Operators for Electricity (ENTSO-E). The project includes the rehabilitation of key transmission assets, such as substations, transmission lines and transformers which have reached the end of their technical life. It consists of a large number of individual schemes geographically dispersed throughout the country. Following the signature of the loan, Hoyer said: “With Prime Minister Filat we have discussed the results achieved and new possibilities for project financing to support the government's priorities, mainly in the areas of energy, transport, environmental infrastructure and agribusiness.” (OL/transl.fl)