Team Europe: EU and EIB enhance support for green, sustainable and energy- efficient Moldova through €15 million EU grant

• €15 million grant provided by the European Union and managed by the EIB will support the Government of Moldova in undertaking comprehensive energy efficiency measures in the country
• The grant complements the €60 million loans provided by the EIB and EBRD to improve the energy efficiency of public buildings across Moldova
• Energy efficiency is key for the success of climate action and the fast transition to a carbon- neutral economy, making it a priority for Team Europe.

The European Investment Bank (EIB) and the Ministry of Infrastructure and Regional Development of the Republic of Moldova have today signed a €15 million grant agreement funded by the European Union to support the Moldova Energy Efficiency Project. The project will improve the energy efficiency of public buildings, including republican hospitals, schools, kindergartens and health institutions in Moldova.

Greater energy efficiency will be achieved by improving the insulation of buildings, installing more energy-efficient lighting, heating, cooling and ventilation systems, integrating renewable energy sources and introducing efficient energy management practices. Refurbishments financed with this investment will reduce energy consumption, reduce utility bills, air pollution and greenhouse gas emissions from renovated buildings. 

Teresa Czerwinska, Vice President of the EIB, who is in charge of operations in Moldova, said: “With this new agreement we are delighted to foster and support the energy-efficient refurbishment of public buildings in the Republic of Moldova. By supporting better energy performance, the reduction of CO₂ emissions and sustainable urban development, the Bank and the European Union will contribute to safeguarding the environment and to improved living conditions for Moldovans. Furthermore, investing in energy efficiency increases the energy security of the country. The ongoing military crisis in the region amplifies the need for Moldova to scale up its efforts in energy efficiency, energy security and the diversification of energy supplies. This project and our joint efforts are the right steps for the country to become more independent, competitive and resilient in energy issues”.

Jānis Mažeiks, Ambassador of the European Union to the Republic of Moldova, highlighted: “In the current circumstances, with high prices of energy, any reduction of the energy consumption translates directly into a significant reduction of the energy bills. Investing in energy efficiency is a win-win strategy that increases the energy security of the Republic of Moldova, but also it contributes to climate diplomacy Agenda of the country. The signature of this Agreement will help citizens and public institutions, such as hospitals, to cope with the energy crisis”.

Andrei Spinu, Deputy Prime Minister and Minister of Infrastructure and Regional Development said: “Moldova, now more than ever, must strengthen its energy self-sufficiency. Because we are 75% energy dependent, we want to reach the goal of climate-neutral by 2050. Moreover, each project and financial resource used effectively in energy resilience will reinforce us in the face of future crises. Schools, kindergartens, and hospitals in Moldova’s localities are the target institutions for energy efficiency projects. We want to promote a big change in the energy sector, and we thank you for being with us during this process”.

Team Europe makes long-term investments in sustainable economic growth and energy independence of Moldova

The Moldova Energy Efficiency Project supports improved energy efficiency, being one of the initiatives of the Economic and Investment Plan of the European Union aiming to provide assistance to the Republic of Moldova with concrete investments to help post-pandemic recovery and improve the lives of Moldovan citizens.

The total cost of the project is €94 million. It is co-financed by a €30 million loan from EIB and a €30 million loan from the European Bank for Reconstruction and Development (EBRD), and an in-kind contribution of €18.5 million from the government of the Republic of Moldova.

The European Union is complementing the project with €15 million in grants from its Neighbourhood Investment Platform (NIP) and €0.5 million from the Eastern Partnership Technical Assistance Trust Fund (EPTATF). A further €28 million from the EIB can be deployed for the project in the future.

This financing complements the support provided for energy-efficient public buildings in Chișinău funded under the Eastern Europe Energy Efficiency and Environment Partnership (E5P) fund, which consists of a total investment of €25 million. Of this, €5 million is a grant from the E5P fund and €20 million is in the form of loans provided by the EIB and EBRD.

Press contacts:

EIB Group: Olga Sushytska, email: o.sushytska@eib.org, tel.: +352 691 289 108

Website: www.eib.org/press – Press Office: +352 4379 21000 – press@eib.org

Ministry of Infrastructure and Regional Development of the Republic of Moldova: Veronica Tocarciuc, veronica.tocarciuc@midr.gov.md, tel.: + 373 68 969 447

Website: www.midr.gov.md