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Moldova will receive more than 21 million euros from the E5P Fund and the European Union to implement new projects in the field of energy efficiency.

Moldova will receive more than 21 million euros from the E5P Fund and the European Union to implement new projects in the field of energy efficiency.

The Ministry of Infrastructure and Regional Development reported about this, noting that this was mentioned during a meeting of the Coordination Group of the Eastern Europe Energy Efficiency and Environment Partnership (E5P) Fund in Moldova. The parties considered the implementation of energy efficiency and environmental projects, implemented in our country with the support of the E5P Fund. During the meeting, Constantin Borosan, state secretary of the Ministry of Infrastructure and Regional Development, stressed that to reduce consumption of imported energy resources and increase resistance to price increases, Moldovan government has set a goal to increase energy efficiency in all sectors of the country's economy, as well as to develop actively renewable energy sources. "I am glad that international financial institutions are collaborating with our municipalities to identify possible areas of intervention that can subsequently be co-financed from the E5P Fund. Especially since the E5P Assembly of Contributors has announced new commitments to Moldova totaling more than 11 million euros, and 10 million euros will be provided to our country by the European Union," said Constantin Borosan. In order to assimilate these funds, the State Secretary suggested that international financial institutions and Moldovan institutions jointly develop an information campaign on the possibilities of the E5P Fund and the procedures of how a municipality can apply for financing from it. And the Ministry of Infrastructure and Regional Development, as sector coordinator of external energy assistance, is ready to assist in achieving these goals. The meeting also made recommendations on new funding proposals for approval by the E5P Assembly of Contributors. Thus, the project proposal "Moldova Solid Waste Program - Zone 5" (a waste management project), developed by the European Bank for Reconstruction and Development, was presented to the coordination group. At the same time, the Council of Europe Development Bank presented conceptual proposals for "Social Housing in Moldova, Phase 3" and "Balti and Cahul Hospitals" (energy efficiency projects). E5P is a 200 million euros Fund managed by the EBRD designed to promote energy efficiency investments in the Eastern Partnership countries. The Fund supports grants for the implementation of energy efficiency projects proposed by implementing financial institutions: the European Bank for Reconstruction and Development, the European Investment Bank, the Nordic Investment Bank, the Nordic Environment Finance Corporation (NEFCO), the Council of Europe Development Bank (CEB), the World Bank Group and KfW Group. This means that the additional investment attracted by energy efficiency projects is four times greater than the resources allocated through the E5P Facility. // 28.06.2022 – InfoMarket

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