Moldova to benefit from about 22 million euros to increase energy efficiency
11:52 | 03.12.2021 Category: Economic
Chisinau, 3 Dec. / MOLDPRES /- The Republic of Moldova will benefit from a grant of 11,750 million euros in the form of a grant for the co-financing of technical assistance and investment projects in the field of energy efficiency and renewable energy. This was announced by the donors to the Eastern European Partnership Fund for Energy Efficiency and Environment (E5P), during the annual Assembly, held yesterday online.
In addition, the European Union has announced that by the end of this year it will contribute to the E5P fund with about ten million euros, aimed at the Republic of Moldova.
State Secretary of the Ministry of Infrastructure and Regional Development Constantin Borosan thanked the donors for the financial support provided, emphasizing that the projects financed from the E5P Fund will be implemented in accordance with the best practices applied at EU level, to make our country less exposed to external risks and to strengthen energy resilience.
"We are confident that thanks to the support of international financial institutions and the E5P Fund, the Republic of Moldova will be able to transpose the principles of sustainable development in all areas of interest to our country - energy efficiency of public and residential buildings, improving district heating, promoting renewable energy use, waste management and recycling, modernization of public transport, etc. ", said Constantin Borosan.
Currently, E5P grants are used to co-finance in the Republic of Moldova the solid waste management project in Chisinau, as well as for the energy efficiency project, implemented in the modernization of the district heating system of CET Nord in Balti.
E5P is a fund with a capital of over € 200 million managed by the European Bank for Reconstruction and Development (EBRD), designed to promote investment in energy efficiency in the Eastern Partnership countries. The fund supports, at 1: 4 leverage, the energy efficiency loans provided by the implementing financial institutions: EBRD, European Investment Bank (EIB), Nordic Investment Bank (NIB), Nordic Environmental Finance Corporation (NEFCO), Council European Development Bank (ECB), World Bank Group and KfW Group.