Moldovan parliament ratifies agreement on grant worth 4.5 million dollars for energy efficiency

Chisinau, 21 November /MOLDPRES/ - Moldova will benefit from non-refundable technical assistance worth 4.5 million dollars for the implementation of the project, Sustainable Transition to Energy Efficiency in Moldova (STEEM). The parliament today ratified the Agreement on grant between Moldova, the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).    

The grant will cover the expenses for the operationalization of a sustainable mechanism of financing in the field of energy efficiency in the public buildings and for financing the energy audits of the buildings which will be renovated.  

The financial resources are meant also for the consolidation of the capacities of the employees of the Energy Ministry, National Centre for Sustainable Energy, Termoelectrica stock company and the Consolidated Unit for the Implementation of Projects in the Energy Sector.  

The initiative implies also the providing of a loan worth 50 million dollars. The financial resources will be invested in the energy renovation of 46 schools from all over Moldova, as well as in the modernization of the system of centralized supply with thermal energy of the Chisinau city.

According to the authorities, the project will improve the conditions for education for about 46,000 pupils, teachers and auxiliary staff. At the same time, it will bring significant savings of energy. They estimate that the works of renovation and modernization will lead to a cutting in the consumption of energy by up to 65 per cent in the concerned buildings.

The STEEM project was signed on 8 August 2024. It will be carried out during 2024-2029 and will be managed by the Consolidated Unit for the Implementation and Monitoring of Projects in the Energy Sector.