Moldova to initiate negotiations with European Investment Bank on implementation of Energency Efficiency project

Chisinau, 20 October /MOLDPRES/ - Moldova will initiate negotiations with the European Investment Bank (EIB) on the implementation of the project, Energy Efficiency in Moldova. A draft decision to this effect was approved at a cabinet meeting today.

According to the government’s communication and protocol department, the project’s goal is to start talks on the draft contract on financing on the providing by EIB of a loan worth 30 million euros to Moldova, in order to implement the project, Energy Efficiency in Moldova.  

Thus, Moldova is to contract a loan worth 30 million euros from the European Investment Bank, another loan amounting to 30 million lei on behalf of the European Bank for Reconstruction and Development (EBRD), a grant worth 15 million euros on behalf of the Neighbourhood Investment Platform of the European Commission, as well as a grant worth 500,000 euros on behalf of the Eastern Partnership Technical Assistance Trust Fund (EPTATF), with a duration of implementation of 4 years (2022-2025).   

The main category of the project’s beneficiaries will be public institutions, as well as republican/national interest hospitals, as well as the ones of local/municipal importance (kindergartens, schools, municipal and district hospitals).   

The project is to be implemented in two stages: the first one with emphasis on public institutions (hospitals), with a budget of about 45 million euros, with equal coverage on behalf of EBRD and EIB and the second stage – with emphasis on the local public administration authorities (APL), within the limit of the demands on their behalf and the level of indebtedness, with a budget of about 30 million euros (which will include all component of grant, in order to enhance the APL’s interest in the project).    

Photo: Government