The Chisinau City Hall at the start of December will sign an agreement with the European Investment Bank, IPN reports. The goal of the project that is funded by the EIB with €25 million is to thermally insulate public and apartment buildings.

Gabriela Ciumac, head of the external relations division of the Chisinau City Hall, in the November 21 meeting of officials of municipal services said that since 2007 the EIB has offered Moldova €656 million in financial assistance for 15 projects. In three of these, the Chisinau City Hall was a partner.

According to Gabriela Ciumac, to advance the relations with the EIB, it is very important for the partners from Moldova, including the Chisinau City Hall, to strictly obey the conditions stipulated in the financing agreements.

The European Investment Bank is a financial institution that supports projects in such areas as infrastructure, energy, education and health in which the local authorities contribute as partners.

In 2015, the EIB provided financial assistance to the value of €78 billion, €69.7 billion of which for financing projects in EU member states. The last project financed by the EIB in Moldova is the one to modernize Moldova’s Railways, to the value of €50 million.