Moldova to borrow 40 million dollars to optimise heating supply services in Chisinau

18:01 | 24.11.2014 Category: Economic

Chisinau, 24 November /MOLDPRES/ - The World Bank Board of Executive Directors today approved a loan of 40.5 million dollars to Moldova for the District Heating Efficiency Improvement Project. Within it, the investments to streamline heating supply services in Chisinau will be financed.

"For many years progress in the sector of municipal heating was blocked by old infrastructure and significant financial losses. This project is a chance to develop a modern and efficient heating supply network for all the inhabitants of Chisinau", said World Bank Country Manager for Moldova Alexander Kremer.

The Enterprise Restructuring Plan, approved by the government on 13 November 2013, provides for the merger of three companies (Termocom, CET-1 and CET-2) into a new company, which will provide heating services to the inhabitants of Chisinau. The purpose of this project is to ensure improved operational efficiency and financial viability of the new company through modernisation and good infrastructure management.

Over 1 billion dollars have been allocated for the implementation of 49 projects in Moldova since the country joined the World Bank in 1992.

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