EBRD lends Moldova €35 million under MoREEFF

The European Bank for Reconstruction and Development (EBRD) will lend Moldova €35 million under the Moldovan Residential Energy Efficiency Financing Facility (MoREEFF). The money will be accessible through local banks’ credit lines. The persons who will implement energy efficiency projects will benefit, upon finalizing these grants, from between 20% and 35% of the total sum of the credit taken, reports Info-Prim Neo. The grant fund, totaling €11 million, was founded through the contribution of the European Union and Swedish Government. “Through this second energy efficiency we want to support Moldova’s households. Many of them face the problem of paying energy bills, which is a burden”, mentioned, at the program’s launching, Julia Otto, permanent EBRD representative to Chisinau. By 2017, the MoREEFF credit line will have financially supported about 8,000 projects. This includes the installation of double glazed windows, wall and roof thermal insulation, installation of biomass boilers, solar water heating systems, heat pumps, heat changing stations, and engineering systems. Marcel Raducan, Minister of Regional Development and Constructions, who attended the event, pointed out that 45% of final energy consumption, within the national economy, goes to buildings, 70% of which are part of the residential sector. Implementing some energy efficiency projects may reduce energy consumption by up to 12% out of the 20% that Moldova aims to have reached by 2020. The Ministry, with the support of EBRD experts, elaborated the bill on building energy performance and a set of regulations, which will establish minimal energy performance requirements for new buildings. “The Moldovan Residential Energy Efficiency Financing Facility, launched by EBRD, might reduce not only the bills for flat owners, but also contribute to the improvement of the residential blocks’ technical states, and to the apartments’ thermal comfort”, added the Minister. Economy Minister Valeriu Lazar said he trusts that the program will stimulate the emergence of residence owners’ associations. “Moldova will finally have competent and responsible associations in the management of the residential fund”, highlighted the Minister. The first credit line, of €5 million, under the Moldovan Residential Energy Efficiency Financing Facility, was opened at Moldinconbank CB, and is still operating. Other banks will also open additional credit lines.