EU and EBRD launch new programme to reduce the cost of energy efficiency renovations in residential sector in Moldova
On 10 July, the European Commission and the European Bank for Reconstruction and Development announced the launch of a programme to reduce the cost of energy efficient renovation of residential buildings in the Republic of Moldova.
The respective statement of intent was signed in Chisinau, Moldova, by the European Commissioner for Neighbourhood and Enlargement, Olivér Várhelyi, and the Head of the European Bank for Reconstruction and Development Office in Moldova, Catarina Bjorlin Hansen.
The European Union will contribute €9,5 million in grants in support of credit lines provided under the EBRD Green Economy Financing Facility in the residential sector (Residential GEFF).
This initiative aims to encourage Moldovan apartment and home-owners in undertaking energy efficiency renovations to reduce their energy bills and strengthen Moldova’s long-term energy security.
“With this transformative new programme, the EU’s ambition is to significantly reduce the cost of energy efficiency renovations of residential buildings in the Republic of Moldova,” said European Commissioner for Neighbourhood and Enlargement, Olivér Várhelyi.
“Participating banks under the programme will offer loans to households for investments in energy efficiency measures, such as insulation, heat pumps, solar panels etc. After successfully implementing these measures, borrowers will be eligible for cashback, funded by the European Union,” added the Head of the European Bank for Reconstruction and Development in Moldova, Catarina Bjorlin Hansen.
During his official visit to the Republic of Moldova, Olivér Várhelyi visited a multi-storey block of flats in Chisinau, where a modern system of distributing thermal energy was introduced with EU financial support.
The EU supports the replacement of the Soviet vertical system with a horizontal system, which allows the installation of personal meters and savings of up to 30 per cent on energy bills.
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