The citizens of the Republic of Moldova will benefit from new green technology thanks to assistance provided by the EU-funded Green Economy Financing Facility (GEFF), of which the European Union is a key partner and donor. The European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund (GCF) have offered a €5 million loan to Moldova Agroindbank SA (MAIB). It will be the first loan to be made available under the GEFF in the Republic of Moldova and will facilitate the country’s transition to a more sustainable, low-carbon and climate-resilient economy.

The loan is expected to help the Republic of Moldova to reduce its annual energy consumption by 108,800 GJ per year (more than the annual energy consumption of 6,000 Moldovan households) and carbon emissions by 9,880 tonnes per year (the equivalent of taking more than 5,000 vehicles off the streets).

The loan will be used for on-lending to individuals, small and medium-sized enterprises (SMEs) and corporations for investments in climate change mitigation and adaptation technologies and services. These include thermal insulation for buildings, energy-efficient glazing, LED lighting, heat pumps, photovoltaic generation and energy storage systems, electric vehicles as well as drip irrigation lines, conservation agriculture machinery and rainwater harvesting equipment.

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Press release