“We want to develop a new sector of the lending market which will be dedicated to energy efficiency”, MP Veaceslav Ionita, chairman of the parliamentary Commission for Economy, Budget and Finances, stated during discussions as part of the 2010 Moldova Business Week event, Info-Prim Neo reports. Veaceslav Ionita mentioned the experience achieved within a project financed by the World Bank proved that funds invested in insulating an apartment block would halve energy expenses. “It’s a very lucrative investment. The money can be recovered in 3-4 years. We will stimulate the enhancement of energy efficiency through European funds for public institutions, the EBRD financial support we hope to receive for banks and World Bank’s assistance. We’ll invest in the modernization of companies' and housing heating systems, in renewable energy sources. There are many areas to invest in”, he stated. Veaceslav Ionita says one of the main opportunities is that Moldova became full member of the Energy Community on May 1, 2010. “Improving energy efficiency will certainly be one of the priorities during Moldova’s presidency over the Community. We’ll launch many projects in partnership with the 8 South-Eastern European countries, members of the Community. I hope the amount of credits, not only bank loans, invested in energy efficiency will amount to 1 billion lei in 3 years”, he said. During his first visit in Moldova after it joined the Energy Community, Fabrizio Barbaso, Deputy Director General of the European Commission's Energy Directorate, said Moldova made significant progress toward synchronizing its energy policies with European ones. According to Valeriu Lazar, Minister of Economy, Moldova’s goal as full member of the Community is to elaborate and implement proper regulations for the energy market. The Law regarding energy efficiency will be approved soon and other laws and regulations will be revised from an environmental perspective.