EIB Global to support Moldova with technical assistance and advisory services

• A new memorandum of understanding signed by the EIB and the government of Moldova signifies a fortified commitment to developing a substantial project pipeline, essential for the country and its people.
• The EIB has committed a €100 million technical and advisory package for priority recovery and resilience investments in Ukraine and Moldova.
• Moldova, grappling with the challenges posed by regional instability, is set to benefit from up to 15% of this total to spur investments in vital sectors like transport, energy, environment, and micro and small businesses.

The specialised development finance arm of the European Investment Bank (EIB) — EIB Global — signed a memorandum of understanding with the government of Moldova on the side-lines of the Moldova Support Platform donor conference. It pledged to provide advisory services and technical assistance to foster investment projects in key sectors like transport, energy, environment, and micro, small and medium-sized enterprises (MSMEs). 

In the wake of regional instability caused by the war in nearby Ukraine, Moldova will benefit from support of up to 15% of the EIB’s €100 million technical and advisory package, sourced from the EIB's own funds. The package, which is part of the Bank’s EU for Ukraine Initiative, will underpin high-priority recovery and resilience investments in Ukraine and Moldova. It is designed to assist these countries in navigating the challenges that have arisen from Russia’s war in Ukraine, while also providing vital support during their respective EU pre-accession periods.

The memorandum of understanding solidifies the commitment of both the EIB and the government of Moldova to intensifying cooperation on the preparation of a significant pipeline of projects crucial to Moldova and its people. Subsequent EIB investments in projects originating from the advisory support and technical assistance will be contingent upon the EIB's due diligence, necessary approvals, and adherence to standards throughout the project’s life cycle, from inception to execution.

EIB Vice-President Teresa Czerwińska, who is responsible for the Bank’s operations in Moldova, said: “The ongoing Russian war against Ukraine affects the Republic of Moldova profoundly and extensively. As the EU bank, we extend our unwavering support to Moldova. Our aim is to catalyse Moldova’s economic recovery and facilitate preparation for EU accession. Aligned with Moldova’s national priorities and needs, the EIB remains steadfast in its dedication to the country, especially in aiding the facilitation of pivotal long-term policy reforms and addressing pressing infrastructure needs. I am confident that our present commitment for advisory services and technical assistance will enable us to develop truly impactful projects for the country, providing support that will not only help Moldova navigate through these challenging times but also expedite its path toward EU membership.”

Artur Mija, Secretary General of the Government of Moldova said: “We express our gratitude to the European Investment Bank for partnership and signing of this memorandum. The advisory and technical support is crucial in preparing and implementing pivotal projects in priority sectors such as transport, energy, environment, and micro, small and medium-sized enterprises (MSMEs). These initiatives are vital, contributing significantly to the well-being of our citizens and the overall development of our country as we navigate the path towards EU integration”.

Background information

Since establishing its presence in Moldova in 2007, the EIB has channelled over €1.19 billion into 33 projects, backing EU policy objectives across multiple sectors, such as transport, energy, SMEs, agriculture, and municipal infrastructure. 2022 was a record year for the EIB in Moldova, with €250 million worth of new loans signed with the public sector. 2023 saw the Bank extend its first corporate loan in Moldova — a $30 million project with Premier Energy Distribution, Moldova's private electricity distribution system operator, aimed at enhancing the quality and reliability of the electrical power network. 

EIB Global is the EIB Group’s new specialised arm dedicated to increasing the impact of international partnerships and development finance outside of the European Union. EIB Global is designed to foster strong, focused partnership within Team Europe, and as part of the EU’s Global Gateway strategy alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.