OREANDA-NEWS. January 19, 2012. The European Bank of Reconstruction and Development, the European Investment Bank and the European Commission are planning to provide Moldova with funds for reconstruction of the transmission network of Moldelectirca, state enterprise, and for modernization of its substations and transmission lines.

For the project to be realized EBRD and EIB are supposed to provide our country with loans at a sum of USD 21,5 mln. each, with another USD 9 mln. being financed as a grant by the European Commission in the framework of the Investment Facility of the European Neighborhood Policy. The matter about this loan is to be considered by the Board of Directors of EBRD on March, 27.

Implementation of the project will will strengthen the stability of power supply and improve the Moldelectirca’s overall operation, a necessary prerequisite for Moldova’s integration into the European transmission network ENTSO-E (European Network of Transmission System Operators for Electricity). Moldelectrica is a state-owned transmission company under the supervision of the Ministry of Economy and Trade (MoE).

Its main functions are power transportation via high-voltage electricity lines, centralized administration and control, exploitation of intersystem power communications alongside with energy systems of other states.