OREANDA-NEWS. August 12, 2011. The European Commission will provide a 42.6 mln euro grant to Moldova to support reforms in the energy sector. The decision to allocate this money was taken by the European Commission earlier, when it approved the assistance program budget for Moldova for 2011 in the amount of 78.6 mln euros.

The Cabinet approved beginning of the negotiations to sign the respective agreement between the Moldovan government and the European Commission on financing the program of the budget support of energy reforms. The Government’s Secretary General Victor Bodiu said the gratuitous financial aid from the EU in the amount of 42.6 mln euros would be provided to finance energy sector reforms, particularly, to implement Moldova’s Energy Strategy till 2020.

The matter concerns measures for strengthening the country’s energy security, modernizing the energy sector infrastructure, using renewable energy sources potential, enhancing energy efficiency, integrating into the European energy market. It is provided that the grant will be allocated to Moldova in three disbursements starting from the IV quarter of 2011. The first disbursement will amount to 13 mln euros.