The Cabinet authorized the taking out of a €30 million loan from the European Investment Bank for implementing the Moldova Energy Efficiency Project, IPN report.

As part of the same project, the Republic of Moldova will raise a sovereign loan of up to €30 million from the European Bank for Reconstruction and Development. The EBRD loan will be co-financed by an investment grant of €15 million from the EU’s Neighborhood Investment Platform and a grant of €500,000 from the Eastern Partnership Technical Assistance Trust Fund.

The project will be implemented in 2022 – 2025.

Under the loan agreement, the EIB loan will be disbursed in ten tranches of minimum 1€ million each. The grace period for repaying each tranche will be five years and a maximum period of 20 years of the receipt of each tranche separately.