EBRD is expanding its efforts to promote energy efficiency in Moldova

The European Bank for Reconstruction and Development (EBRD) is expanding its efforts to promote energy efficiency in Moldova with a €5.5 million loan to CB “MOBIASBANCA-Groupe Société Générale” for on-lending to private companies undertaking energy-saving measures and investing in renewable energy projects.

The financing is available under the Moldovan Sustainable Energy Financing Facility Extension (MoSEFF II) framework.

Since 2010, when the EBRD started financing energy efficiency in Moldova, a total of over €38 million has been committed through MoSEFF to partner banks, helping more than 150 businesses to cut their energy bills and CO2 emissions. The resulting energy savings amount to over 23,000 MWh per year and could meet the energy needs of residents in Moldova’s second-largest city, Bălți, for more than a year. These projects helped reduce CO2 emissions by over 58,000 tonnes per year, equivalent to the annual emissions produced by over 40,000 cars.

source : ebrd.com