The European Union signed three co-financing agreements with the EBRD for supporting the activities of the Eastern Europe Energy Efficiency and Environmental Partnership (E5P) in Moldova, Georgia and Armenia. The financing for Moldova represents €18.7 million, while for Armenia and Georgia – by €10.2 million. According to European officials, the first tranches will be disbursed in the near future, IPN reports, quoting a press release of the Ministry of Economy.
The E5P funds will be used to implement energy efficiency and environmental projects like those to thermally insulate buildings, to save energy and to build new heating, water supply and sewerage systems.
On October 16, 2014, the Government and the EBRD signed a contribution agreement concerning Moldova’s participation in E5P. According to the procedures, Moldova was to contribute €1 million. As a result of negotiations between the Ministry of Economy and representatives of the Fund, it was agreed that this contribution will be paid in installments in 2015-2018. Thus, in 2015 Moldova paid €325,000 and is to pay another €225,000 by July 1, 2016.
E5P is a €170 million multi-donor fund managed by the EBRD that is designed to promote energy efficiency investments in the Eastern Partnership countries.
