The Chisinau Municipal Council empowered acting mayor Silvia Radu to negotiate aspects of the lending agreement with the EBRD/EIB for implementing the project to ensure the energy efficiency and thermal insulation of public buildings and apartment blocks in Chisinau municipality, IPN reports.

Silvia Radu was empowered to negotiate the period of validity of the contract, commitment fee, anticipated repayment and late payment interest rates. In the same meeting, the Council approved the composition of the commission for surveying the implementation of the energy efficiency project.

It is projected that the municipality will repay the loan in 17 half-yearly tranches, starting with the third year of the signing of the contract. The annual interest rate will be equal to 5 percentage points, plus the EURIBOR rate for six months.

Head of the Capital Constructions Division Alexandru Panfilii said that public procurement contests will be held as from next January and the first buildings that will benefit from thermal insulation will be chosen. Priority will be given to kindergartens, schools and hospitals.

The project to ensure the energy efficiency and thermal insulation of public buildings and apartment blocks in Chisinau municipality has a budget of €25 million. €20 million represents the loan provided by the EBRD and EIB, while €5 million is a grant.