The European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the European Union (EU) will jointly provide Republic of Moldova with €75mln to improve energy efficiency and reduce the energy consumption of public buildings, according to a press release.
EBRD stated that this is the first national energy efficiency project implemented in the Republic of Moldova and it will be a major opportunity to create local jobs and boost the construction sector in the country.
The operation was announced on Thursday at the EU Eastern Partnership Summit in Brussels.
EBRD explained that the operation is part of a flagship initiative in the Republic of Moldova under the European Union`s Economic and Investment Plan for the Eastern Partnership.
“The EBRD and EIB are supporting Republic of Moldova’s energy efficiency of public buildings by lending €30mln each, with the European Union complementing the investment with €15.2mln in grants from its Neighbourhood Investment Platform (NIP) and Eastern Partnership Technical Assistance Trust Fund (EPTATF),” said EBRD.
“EU grants will finance the technical assistance in support of project implementation with €2.8mln and increase the number of energy-efficient renovations of public buildings with €12.4mln. The EIB will manage the EU grant,” added EBRD.
About 60% of final energy consumption in the Republic of Moldova relates to the buildings sector. The country supports global climate action by reducing greenhouse gas emissions, a major contributor to global warming.
Improved energy efficiency is key to Moldova`s energy independence, faster transition to a carbon-neutral economy and the success of global climate action.