​MOLDOVA-EBRD AGREEMENT FOR BALTI HEATING SYSTEM REHABILITATION TO BE SIGNED ON OCTOBER 30

The financing agreement between the Republic of Moldova and the European Bank for Reconstruction and Development (EBRD) for rehabilitation of Balti heating system will be signed on October 30 in Balti. This decision was taken on the Wednesday meeting of Deputy Premier and Minister of Economy of Moldova Adrian Candu, and Chairman of the EBRD Board of Directors Heinz Kaufmann.

According to the Ministry of Economy (MoE) press service, Heinz Kaufmann said that the project realization implies providing 7 million euros credit, which will be used for modernization and improvement of the heating service in Balti. The credit will be given for 15 years with grace period in payments and with interest rate LIBOR+ 1-2%.

Also, Heinz Kaufmann said to Adrian Candu that a program development strategy for 2016-2020 will be prepared. The Deputy Premier welcomed this initiatives and required that the Government to be informed about stages of its realization.

Adrian Candu also said that realization of the project will allow reducing coal and natural gas consumption for heating.

“Besides, we hope that the project will positively influence Moldova’s energy safety”, said he.

Candu noted that this project is the first, which provides modernization of heating system outside the capital city. Also, Balti is the first locality to get funds for heating system modernization from the Eastern European Energy Efficiency and Environment Partnership Fund (E5P) as a grant worth 3 million euros.

Head of the EBRD Board of Directors invited Moldova to participate in the annual meeting of the EBRD Directors, which will take place in Tbilisi, Georgia.