The Government opened negotiations on the financing agreement between Moldova and the World Bank for implementing the project to improve the efficiency of the centralized heating system of Chisinau municipality, IPN reports.

Based on his accord, the World Bank will release a loan of US$40 million to Moldova. The strategy and plan for corporatively, institutionally and financially restructuring the centralized heating system of Chisinau municipality were approved in December 2011. Under them, the two thermoelectric plants of Chisinau CETs will merge with SA Termocom by the end of this year. 

It is projected that these investments will considerably improve the efficiency of the heating system. According to estimates, the annual effect following the implementation of the first tranche of the loan (half of the sum) will be about US$8 million.

The lending conditions will be agreed within the negotiations.