Moldova launches 1.0 mln euro project in support of biomass fuel production

Moldova's economy ministry said on Thursday it has launched a 1.0 million euro ($1.3 million) project under which it will make biomass fuel production equipment available to private companies under preferential terms.

The project is financed by the European Union via the Energy and Biomass Project and will be implemented by the United Nations Development Programme (UNDP), the ministry said in a statement.

Under the project, private companies will be able to buy equipment for the production of biomass fuel under a three-year leasing scheme without paying commission fees, interest rates or value-added tax, the statement added.

The Energy and Biomass project, which is being implemented in Moldova in the 2011-2014 period, has a total budget of 14.56 million euro, including 14 million euro of EU financing and 560,000 euro in co-financing by UNDP Moldova.

($ = 0.7707 euro)

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