President Of EBRD Visits Moldova Amid Accelerated EU Reforms; Focus On Roads, Energy, And Micro, Small, And Medium Enterprises

The President of the European Bank for Reconstruction and Development, Odile Renaud-Basso, is scheduled to visit Moldova later this week to demonstrate the Bank’s strong support for the country’s economic reform efforts, particularly as Moldova moves forward with its ambition to join the European Union. Moldova has held EU candidate status since 2023, and the visit comes at a time when the country is accelerating reforms linked to its European integration goals. During her visit on Thursday and Friday, President Renaud-Basso will meet with President Maia Sandu, Prime Minister Alexandru Munteanu, and other senior government officials. She will also hold discussions with business partners, diplomats, and representatives of civil society.

These meetings are intended to reaffirm the EBRD’s long-term commitment to supporting Moldova’s economic reforms and investment priorities. President Renaud-Basso has emphasised that Moldova’s aspiration to become an EU member represents a rare and important opportunity for the country. Beyond its political significance, the EU accession process is seen as a powerful driver for economic reform, growth, and institutional strengthening. The EBRD has stated its intention to actively support Moldova on this path by encouraging investment and providing targeted assistance to advance key economic reforms.

The EBRD is the largest institutional investor in Moldova. Since the beginning of Russia’s full-scale invasion of Ukraine, the Bank has provided €1.7 billion to help Moldova manage the economic impact of the conflict. Overall, the EBRD has invested nearly €2.9 billion in 193 projects across the country, with around 40 per cent of its portfolio focused on sustainable infrastructure. Infrastructure development has been a major focus of EBRD support in recent years. Since 2022, the Bank has significantly increased its lending for projects aimed at improving Moldova’s regional connectivity, particularly through upgrades to road and rail networks.

By the end of this year, the EBRD expects to sign an additional €150 million in financing for two major road projects. This follows a €150 million financing package signed in 2024, along with an extra €40 million for an earlier road project agreed in June. The Bank has also played a critical role in supporting Moldova’s energy security during a period of geopolitical uncertainty. Its work in the energy sector has helped reduce the country’s reliance on Russian energy supplies. A €400 million loan provided this year is part of a broader series of EBRD-backed measures that have enabled Moldova to purchase gas and electricity from European Union suppliers.

In the longer term, the EBRD is supporting Moldova’s transition toward a more sustainable, renewables-based energy system. This includes technical assistance for the country’s first renewable energy auction held this year, as well as projects aimed at improving energy efficiency and heat supply in the capital, Chisinau, and in Moldova’s second-largest city, Balti. The EBRD views these investments as essential for driving economic growth, an objective shared by Moldova’s new government and supported by the European Union’s €1.9 billion Growth Plan facility. Alongside large-scale infrastructure projects, the Bank is also focused on ensuring that growth benefits the real economy by supporting local businesses, particularly in the agricultural sector.

Micro, small, and medium-sized enterprises form the backbone of Moldova’s economy, accounting for around 98 per cent of all businesses. The EBRD supports their development by providing access to finance through local banks, helping to promote innovation and competitiveness in the private sector. During the President’s visit, new agreements are expected to be signed to further expand access to finance for MSMEs, businesses, and individuals. President Renaud-Basso’s visit will also include a stop in Balti, where she will review the results of EBRD-funded investments aimed at improving the city’s district heating system.

These projects support the Bank’s environmental objectives and have helped improve heating services for around 70 per cent of Balti’s residents. The Balti District Heating Project represents a significant step toward improving energy efficiency and reducing emissions in Moldova’s second-largest city. The initiative began in 2014 with a €10 million investment to modernise parts of the heating network. A second phase, launched in 2021 with €17 million in financing, introduced further upgrades, including a shift to apartment-level billing, improving efficiency and transparency for residents.