EBRD assists Moldova in improving energy efficiency policies

The cooperation between the Government of Moldova and the European Bank for Reconstruction and Development (EBRD) is extending. On January 4, the parties signed a memorandum of understanding concerning the plan of action on energy efficiency in Moldova, Info-Prim Neo reports. In a news conference held after the signing of the document, Deputy Prime Minister and Minister of Economy Valeriu Lazar said the energy sector affects the results achieved in most of the areas of the economy. The increased energy efficiency will hasten the implementation of a new economic model based on investments and augmentation of exports, which will enable to obtain sustainable economic growth. “We hope we will be among the first in the CIS to launch a project to increase energy efficiency in apartment buildings, with the EBRD’s support,” said Valeriu Lazar. EBRD Managing Director for Turkey, Eastern Europe, Caucasus and Central Asia Olivier Descamps told the news conference that the aim of this framework document is to improve the energy efficiency policies and regulations in Moldova so that the companies more rationally use the energy resources and improve economic performance. “We will finance the ideas that will appear and will work with potential donors to support the implementation of a number of energy efficiency projects,” he stated. The EBRD is one of the main investors in Moldova, with investments totaling €460 million in different projects. In September 2009, it launched a financing line of €20 million in three Moldovan banks to support investments in energy efficiency at companies. Through its BAS program, the EBRD aims to finance 75 energy efficiency projects in the SME sector.