The Government approved the draft law on energy efficiency, which lays down the basic state policy principles and names the state regulator in the area – the Agency for Energy Efficiency, Info-Prim Neo reports. The Agency will be financed with public money and from extra-budgetary resources according to the European practices. The bill creates preconditions for increasing the efficiency of energy consumption, reducing the losses of energy and widely using renewable sources of energy by stimulating the private initiative, said Deputy Premier and Minister of Economy Valeriu Lazar. A separate chapter of the bill defines the mechanisms for financially supporting the projects in the field, through the Energy Efficiency Fund. According to Valeriu Lazar, foreign donors expressed readiness to finance energy efficiency projects. The European Bank for Reconstruction and Development has recently launched a program designed to stimulate investments in purchasing modern equipment and implementing new energy production technology at Moldovan companies. The draft law also describes energy consumers' obligations in ensuring energy efficiency.