2nd Phase of the Moldova Sustainable Energy Efficiency Finance Facility (MoSEFF2)

Stronger connectivity
Energy
4,700,000.00 €
EBRD
2011 - 2017
Finalised
Moldova's high dependency on external sources of energy together with energy being wasted at the end-user level and the poor condition of energy infrastructure result in high carbon intensity and costs which could be reduced by improving energy efficiency practices and by promoting the use of renewable energy sources (especially biomass from agriculture). MoSEFF offers long-term finance to local participating banks which then on-lend these funds to their clients for individual projects designed to cut energy consumption and C02 emissions as well as to improve energy use in industries, SMEs, agribusiness and commercial buildings.

Technical Assistance was requested from the NIF to improve the local banks' capacity to appraise and finance this type of project. Local engineers also benefit from support by improving their technical expertise to better identify and prepare technically feasible and bankable projects. The final beneficiaries receive much needed support to engage in such energy-related investments. EBRD appointed Fichtner Gmbh & Co KG and Allplan Gmbh, the consultants engaged under MoSEFF I, to continue project implementation under MoSEFF II from March and August 2012 respectively. Under MoSEFF II, EBRD has signed four loan agreements with partner banks in Moldova for a total of € 14.4 million. Discussions continue with a potential fifth bank, but signing is not expected to take place until later in 2013. So far, a total of sixteen sub-projects with a combined loan value of € 1.46 million have been signed under MoSEFF II. The project consultants continue to deliver marketing events to improve awareness of energy management amongst SMEs in Moldova and to conduct training with the partner banks to develop the skills of loan officers in identifying and assessing sustainable energy investments.

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Chisinau

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