EBRD lends $5.0 mln to back sustainable energy investments in Moldova

The European Bank for Reconstruction and Development (EBRD) said on Friday it is lending $5.0 million (4.1 million euro) to Moldova’s ProCredit Bank to support sustainable energy investments in the country.

The loan will be used to finance energy efficiency projects and small renewable energy investments undertaken by small and medium-sized enterprises (SMEs), agricultural business and commercial services, the EBRD said in a statement.

"Loans from this credit line will help companies to reduce their energy consumption, while keeping or improving the working conditions, quality of service or production process in their businesses,” the statemend quoted deputy chairperson of the management board of ProCredit Bank Moldova, Eugenia Gashikulina, as saying.

The loan is part of the EBRD’s second Moldovan Sustainable Energy Financing Facility (MoSEFF II), of 22 million euro, including 6.8 million euro as grant support from the European Union.

EBRD has committed almost 700 million euro in Moldova’s economy so far, sigining around 90 investments projects in the country.

($ = 0.82 euro)

Choose your newsletter by Renewables Now. Join for free!