The World Bank’s Board of Executive Directors approved a financing of €92 million to the Republic of Moldova for the Second District Heating Efficiency Improvement Project, which will fund investments aimed at improving the efficiency of district heating services in Chisinau, IPN reports, quoting a press release of the WB.
The project will enable Termoelectrica, the district heating company in Chisinau, to provide more efficient services to the population through installation of new fuel-efficient cogeneration equipment and the reconstruction and modernization of existing heat and power generation facilities. Additionally, the project will finance demand-side energy efficiency and energy conservation investments in selected public and residential buildings.
The Project investments will help maintain the reliability of heat supply in Chisinau while significantly improving the district heating system efficiency, leading to a major reduction of CO2 emissions.
“The Word Bank welcomes the launch of this crucially important project that will help the Moldovan authorities and Termoelectrica to consolidate the success of district heating reform and further strengthen the company’s operational and financial efficiency, thus making heat energy more affordable, especially for vulnerable and low-income consumers,” said Anna Akhalkatsi, World Bank Country Manager for Moldova.
Since Moldova joined the World Bank in 1992, over $1 billion has been allocated to more than 60 operations in the country. Currently, the World Bank portfolio includes 12 active projects with a total commitment of $528.6 million.
