EU to grant Moldova 18 million euros for energy efficiency, environment projects

Chisinau, 27 January /MOLDPRES/- The European Union will grant Moldova 18.75 million euros to implement energy efficiency and environment projects with the support of the Regional Fund of the Eastern Europe Energy Efficiency and Environmental Partnership (E5P). The EU signed three co-financing agreements with the European Bank for Reconstruction and Development (EBRD) in December 2015, in order to back the activities of the Regional Fund, whereas the first installments of the funds will be sent in a short term.

The press service of the Economics Ministry notes that local public authorities will benefit from the resources of the E5P Fund, in order to implement energy efficiency and environment projects, as well as to carry out thermal insulation of buildings, save energy, install new heating systems along with new water and sewerage systems.

The Moldovan government and EBRD signed a contribution agreement on Moldova’s participation in the E5P Fund. According to its procedures, Moldova was going to make a one-million-euro contribution. Following negotiations between the Moldovan Economics Ministry and the Fund’s representatives, both sides agreed that the contribution would be divided in installments due to be paid during 2015-2018. Therefore, Moldova paid 325 thousand euros to the Fund in 2015, and shall transfer another 225 thousand euros by 1 July 2016.

E5P Fund's capital accounts for 170 million euros, being managed by EBRD. It is designed to promote energy efficiency investments in Ukraine, Moldova, Armenia, Georgia and other countries of the Eastern Partnership.

(Reporter V. Bercu, Editor L. Alcaza)