The European Bank for Reconstruction and Development (EBRD) is set to allocate €10 million towards a project that aims to increase the energy efficiency of Chisinau’s buildings.
On 30 November 2016, the EBRD will finalise a decision to allocate €10 million towards increasing the energy efficiency of Chisinau’s buildings. This funding is in addition to a €5 grant previously announced by the European Investment Bank (EIB) and the €5 million to be provided via international donors.
The funding will support ongoing work to increase the efficiency of all buildings owned by the capital city. The total budget for the project is €500 million, with €50 million going towards public buildings and €450 million towards public housing.
Large-scale project
In the project’s first stage, 24 municipal properties were refurbished. This included primary schools, kindergartens and hospitals. The budget for this stage was €25 million.
The project is expected to run for several years, with a loan repayment plan of 10 – 20 years at a 1 % rate per year.