EBRD AND IFC SUPPORT MOLDOVAN GRID.

• Position: European Bank for Reconstruction and Development - International Finance Corporation - Red Union Fenosa Moldova - Brief article

The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC, part of the World Bank group) have announced loans worth US$30 millon (around 21 million) to upgrade Moldova's power distribution network. The loans to Red Union Fenosa Moldova, the Spanish company's subsidiary in the former Soviet Republic, also place a particular emphasis on boosting energy efficiency. Red Union Fenosa Moldova, the main electricity distributor in Moldova, covers central and southern Moldova, including the capital Chisinau. The project, costing a total of US$40 million (around 28 million), also draws on the company's own funds. It aims...