The European Bank for Reconstruction and Development (EBRD) is further boosting energy efficiency in Moldova with a new €2 million loan to Mobiasbancă  - Groupe Société  Générale. The  EBRD financing  will  be  on-lent  to  individual  households,  groups  of  residents,  housing associations, etc. to help them finance improvements that will make homes more energy efficient, IPN reports. 

According to a press release from Mobiasbancă, the  loan  is  part  of  the  dedicated  framework  –  the  Moldovan  Residential  Energy Efficiency Financing  Facility,  or MoREEFF. EBRD Director for Caucasus, Moldova and Belarus Paul-Henri Forestier said he was pleased to extend this new financing to Mobiasbancă for residential energy efficiency just a month after they provided the bank with a loan for business energy efficiency.

Mobiasbancă has recently received a €3 million loan from the EBRD for on-lending to businesses for improved energy efficiency. Ridha Tekaia, President of Mobiasbancă - Groupe Société Générale, said: “I am glad that  we  are  continuing  our  collaboration  with  the  EBRD  and  today  we  are  joining Moldovan Residential Energy Efficiency Financing Facility, the facility specially designed  for individuals, interested in improving their living conditions and implementing energy  saving measures.”

The bank’s private clients can obtain a loan at a better rate and to receive a grant component of up to 35 per cent from the granted loan after the successful implementation of the project.

The EBRD has to date signed 96 investment projects in Moldova, covering energy, transport, agribusiness, general industry and banking sectors, for a cumulative amount of €743 million.