European bank provides financing to energy saving projects in Moldova
The European Bank for Reconstruction and Development (EBRD) has decided to provide Moldova with a 10-million-euro loan to reduce energy losses.
The EBRD, through the Moldovan bank «Moldova-Agroindbank», opened two credit loan lines for homeowners and private enterprises, according to the EBRD's press release.
The loans are extended under the Moldovan Residential Energy Efficiency Financing Facility and Moldovan Sustainable Energy Efficiency Financing Facility II and will enable Moldova-Agroindbank to provide long-term funding to industrial and residential clients implementing energy saving projects.
The high energy costs and energy losses coupled with outdated equipment and obsolete energy infrastructure make Moldova one of the most intensive carbon countries in Europe.
With the EBRD financing, clients in Moldova will be able to invest in energy efficient appliances and materials for their properties and industries. This will help to significantly reduce energy consumption. Lower costs for enterprises will lead to increased competitiveness and benefit economic development.
Adapted from Moldpres