Investments by EBRD in Energy Efficiency in Moldova Reached EUR100 mn
OREANDA-NEWS. December 11, 2013. As the press service of EBRD representation in Moldova informs, investing in sustainable energy is one of the EBRD’s top priorities in Moldova. In 2013, 25 per cent of the Bank’s projects signed in the country were sustainable energy projects.
Octavian Costas, the acting head of the EBRD’s Resident Office in Chisinau, said: “Strong dependence on energy imports is one of the biggest challenges facing Moldova. Helping the country address this by investing in alternative energy sources and improving energy efficiency, in both the corporate and residential sectors, is at the core of the EBRD’s strategy in Moldova. Our energy efficiency agenda encompasses a wide range of sectors: we are working with businesses, banks, utilities, municipalities and households to help them move towards their own energy independence and enhance their energy efficiency, which will save them both energy and money.”
To date, around 100 private companies have received financing from the EBRD via Moldovan partner banks, under the extended Moldovan Sustainable Energy Financing Facilities (MoSEFF I and II), which brings EBRD financing for energy efficiency in corporate sector to almost EUR 25 million, of almost EUR40 million available under the facilities. In addition, almost 100 small and medium-sized enterprises (SMEs) have received advice from specialized consultants on how to save energy, as part of the Energy Efficiency Initiative of the EBRD’s Business Advisory Services, and backed by the Swedish government.
Furthermore, households are saving energy and paying lower bills thanks to EBRD financing, via partner banks, of energy-saving improvements in their homes under the €35 million Moldovan Residential Energy Efficiency Financing Facility (MoREEFF). Both MoSEFF and MoREEFF are supported by comprehensive technical assistance, and by incentive grants for partner banks and sub-borrowers.
This support is provided by the European Commission through the Neighborhood Investment Facility (NIF) and TACIS funds administered by INOGATE, and by the Swedish government through SIDA. Beyond positively reflecting on businesses and people’s lives, these investments bring significant environmental benefits.