The European Bank for Reconstruction and Development (EBRD) is further boosting energy efficiency in Moldova with a new €2 million loan to Mobiasbancă - Groupe Société Générale. The EBRD financing will be on-lent to individual households, groups of residents, housing associations, etc. to help them finance improvements that will make homes more energy efficient, IPN reports.
According to a press release from Mobiasbancă, the loan is part of the dedicated framework – the Moldovan Residential Energy Efficiency Financing Facility, or MoREEFF. EBRD Director for Caucasus, Moldova and Belarus Paul-Henri Forestier said he was pleased to extend this new financing to Mobiasbancă for residential energy efficiency just a month after they provided the bank with a loan for business energy efficiency.
Mobiasbancă has recently received a €3 million loan from the EBRD for on-lending to businesses for improved energy efficiency. Ridha Tekaia, President of Mobiasbancă - Groupe Société Générale, said: “I am glad that we are continuing our collaboration with the EBRD and today we are joining Moldovan Residential Energy Efficiency Financing Facility, the facility specially designed for individuals, interested in improving their living conditions and implementing energy saving measures.”
The bank’s private clients can obtain a loan at a better rate and to receive a grant component of up to 35 per cent from the granted loan after the successful implementation of the project.
The EBRD has to date signed 96 investment projects in Moldova, covering energy, transport, agribusiness, general industry and banking sectors, for a cumulative amount of €743 million.
