MOLDOVA ENERGY EFFICIENCY

The operation is a framework loan (FL) in support of sustainable energy efficiency improvements targeting public and residential buildings in various cities in the Republic of Moldova. Part of the allocations under the FL has already been identified ex ante and consists of the refurbishment of 139 public buildings. The remainder of the pipeline of allocations will be further developed by the Energy Efficiency Agency and the promoter, with advisory support.

The main objective of this operation is to increase the energy efficiency of public and residential buildings, which has a significant impact on CO2 emission reduction and thus contributes to climate change mitigation. Moreover, energy efficiency investments will boostlocal and regional economic activity, particularly in the construction industry, and therefore support the development of the private sector in general and SMEs in particular.

This operation intends to bring environmental benefits by supporting projects that reduce energy consumption in public and residential buildings, thus helping to mitigate climate change as well as to improve comfort for users. The individual schemes to be financed are likely to be small and are expected to have very limited negative environmental impacts, if any at all. Given the scale, location and nature of the schemes in built-up urban areas, EIA, as defined under the EIA Directive 2011/92/EU amended by the EIA Directive 2014/52/EU, would normally not be required. The building refurbishment will be consistent with relevant legal and regulatory requirements and in particular the Energy Efficiency Directive 2012/27/EU and the Energy Performance of Buildings Directive 2010/31/EU.

The Bank will require the Promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.

This operation is covered by the ELM Guarantee.