The E5P Fund will provide Moldova with a 6 million euros grant for an energy efficiency project in social housing.
This is provided for by a corresponding grant agreement for the implementation of the “Social Housing III” project, the ratification of which was approved by the Government of Moldova. The document itself was signed in Chisinau on July 1. As InfoMarket previously reported, the Council of Europe Development Bank (CEB) will provide Moldova with 20 million euros for the construction and restoration of social housing for rent to socially vulnerable segments of the population and people with low incomes, as well as the rehabilitation of nursing homes and student dormitories in order to ameliorate living conditions in them and improve the energy efficiency of buildings. The money will be allocated for 20 years with a grace period of 5 years. At the same time, the CEB loan will be accompanied by 2 additional grants for the implementation of energy efficiency measures. In particular, 1 million euros will be allocated from the Green and Social Investment Fund, and another 6 million euros from the Eastern Europe Energy Efficiency and Environment Partnership (E5P) Fund. The goal of the project is more energy efficient houses; cleaner air and reduced carbon emissions; improving the quality of life of citizens, especially students and the elderly; reducing energy poverty and energy costs. In the field of education, the project will modernize the residential premises of educational institutions so that they meet the needs of children, including those with disabilities, and provide a safe and inclusive educational environment for all. In the field of social services, the project will help to rehabilitate/expand the living quarters of residential institutions for elderly people who have lost their independence, as well as people with disabilities. Project funding is expected to enable the construction of 450 social housing units for 1,600 beneficiaries, as well as the reconstruction of student residences and nursing homes (another 1,460 beneficiaries). The Moldovan authorities will contribute 7.3 million euros to the project: 1.1 million euros will be a financial contribution and 6.2 million euros will be a non-financial contribution - this amount includes the cost of sites or objects of unfinished construction and their technical expertise, as well as the development of technical documentation. // 08.07.2024 – InfoMarket.
