The European Bank for Reconstruction and Development (EBRD) is lending 7.0
million euro ($9.0million) toMoldova for a heating project, the Moldovan
government said.
The funds will be used to modernise and upgrade district
heating services in the city of Balti, the cabinet said in a statement on
Monday, after approving the decision to sign the financing agreement with the
EBRD.
The loan will be supported by a grant of3.0 million euro from the
Eastern Europe Energy Efficiency and Environmental Partnership (E5P)
facility.
The project, with a total cost of 10 million euro, is expected
to result in significant energy efficiency improvements and water savings as a
result of customer controlled heat supply, improved efficiency of generation
capacity, electricity co-generation and reduced losses in the distribution
network.