The European Investment Bank (EIB) provides about €15 million in grants to the Republic of Moldova for implementing the Moldova Energy Efficiency Project, IPN reports.

The total cost of the project is €94 million. The project is co-financed by the EIB and the European Bank for Reconstruction and Development, which lend by €30 million each, while the Government’s contribution is €18.5 million.

According to the authorities, the project will improve the energy efficiency of public buildings, including republican hospitals, schools, kindergartens and health institutions in Moldova.

Greater energy efficiency will be achieved by improving the insulation of buildings, installing more energy-efficient lighting, heating, cooling and ventilation systems, integrating renewable energy sources and introducing efficient energy management practices. Refurbishments financed with this investment will reduce energy consumption, utility bills, air pollution and greenhouse gas emissions from renovated buildings.

The grant agreement between the Republic of Moldova and the European Investment Bank for implementing the Moldova Energy Efficiency Project was signed on September 13, 2022 in Chisinau.