EBRD Invests in Residential Energy Saving Projects in Moldova
2 October 2012: The European Bank for Reconstruction and Development (EBRD) has announced a new investment in residential energy efficiency projects in Moldova.
The investment consists of a €35 million financing facility to improve energy efficiency in the residential sector. Over the next five years, loans under the EBRD Moldovan Residential Energy Efficiency Financing Facility (MoREEFF) will be provided through credit lines extended to commercial banks participating in the programme. Under this facility, energy efficiency improvements for homes to be financed include the installation of energy efficient windows, the insulation of walls, roofs and floors, and the use of gas boilers and rooftop solar panels.
Minister of Economy Valeriu Lazar noted that the implementation of projects like MoREEFF can help achieve the pan-European sustainable development goals, reduce energy consumption and CO2 emissions. In addition to the EBRD credit facility, more than €11 million has been earmarked by Sweden and the European Union for grant support and technical cooperation to stimulate residential sector investments. [EBRD press release 1] [EBRD press release 2]