15 july

Moldova will receive new funds through Neighborhood Investment Facility

Dozens of infrastructure, social and environmental projects were implemented in Moldova through the Neighborhood Investment Facility (NIF). The fact that Moldova has this ambition to come closer to the EU is a good signal and an encouragement for offering new funds, EU Neighborhood Policy Director Michael Koehler said in a press club meeting, IPN reports.

Two projects financed through the NIF were completed, while another 11 are under implementation. A sum of €100 million has been already spent on them. “We also have regional projects for the Eastern partners that include Moldova. Moldova can benefit from these projects. Currently, we have seven projects that can be implemented in Moldova as well. They concern the energy sector and the financing of small and medium-sized companies,” said the official. He added that the good side of the NIF is that those who present several good projects benefit from more funds. “It’s not about the first come – first served. It is those who have the best performance who are served,” he stated.

Michael Koehler noted that at least 5% of the financing for the future cooperation programs with Moldova will be intended for civil society, which should take an active part in governance. This money should be used to strengthen the efforts of civil society organizations. Among the projects that were completed or are being implemented, the official mentioned the rehabilitation of roads between Chisinau and Balti, the modernization of the trolleybus park and energy efficiency projects.

EBRD senior banker Octavian Costas said the EBRD is the largest institutional investor in Moldova. To date the Bank has signed over 100 investments in the country, covering the energy, transport, agribusiness, general industry and banking sectors, and totaling over €1 billion.

Launched in 2008, the Neighborhood Investment Facility represents an innovative financial instrument of the European Neighborhood Policy. Its primary objective is to finance key infrastructure projects in the transport, energy, social and environment sectors with a mixture of grants and loans.