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Moldovan citizens and legal entities can benefit from financing of 20 million lei for the transition to green technologies within the framework of the EBRD Green Economy Financing Program.

Moldovan citizens and legal entities can benefit from financing of 20 million lei for the transition to green technologies within the framework of the EBRD Green Economy Financing Program.

The Green Economy Financing Program was officially launched in Moldova on April 14, within the framework of which the European Bank for Reconstruction and Development and the Green Climate Fund will allocate 20 million euros, as well as provide free consultations to beneficiaries in the process of choosing the most environmentally friendly technologies for life and business. The funds will be allocated through Moldovan financial institutions, and loans will be available to individuals, homeowners' associations, small and medium-sized enterprises that intend to invest in technologies and services to mitigate and adapt to climate change. So, within the framework of the Green Economy Financing Program, it will be possible to obtain funding for thermal insulation of buildings, installation of energy-efficient lighting, heat pumps, photovoltaic generation and storage systems, electric vehicles, as well as drip irrigation lines, equipment for preserving crops, equipment for collecting rainwater, etc. Nadejda Litvac, senior banker of the EBRD in Moldova, noted that a green technology selector was developed and a base of potential directions for financing was created, which could be used by beneficiaries. The program will not only provide access to finance, but will also provide advice and create an online Green Finance Academy. For example, with financial resources from the Green Climate Fund and the Turkish government, a team of technical and financial experts will help build the capacity of partner financial institutions and provide private sector clients with knowledge of green technologies. In addition, they will provide support in project appraisal and guide loan recipients in choosing the best technology. The first bank to receive an EBRD credit line within the Green Economy Financing Program Moldova for 5 million euros was Moldova Agroindbank. “MAIB can play a leading role in accelerating Moldova's transition to a sustainable economy. This is a great opportunity to provide our clients with access to this new line of financing and to support sustainable environmental investment aspirations of both individual and business clients, including those from the agricultural sector, ”said Vitalie Lungu, Vice President of the Board of Directors of Moldova Agroindbank. Thanks to the Green Economy Financing Program / EBRD program, Moldova is expected to reduce the annual energy consumption by 108 800 GJ per year, which is equivalent to the annual energy consumption of more than 6 thousand households. Also, carbon emissions will be reduced by almost 10 thousand tons per year, which is equivalent to removing more than 5 thousand cars from the streets. The Green Economy Financing Program is being implemented through a network of more than 145 local financial institutions in 27 countries, to date with more than € 4.6 billion of EBRD financial support for 190,000 clients. These projects have resulted in annual CO2 emissions reductions of more than 8.6 million tonnes.// 14.04.2021 — InfoMarket

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