Moldova and the European Bank for Reconstruction and Development (EBRD) have signed a contribution agreement on Moldova’s participation in the Eastern European Energy Efficiency and Environment
Partnership (E5P), IPN reports, quoting a communiqué of the Ministry of Economy.

Moldova will contribute €1 million to the fund. The contribution will be paid in five installments. The first installment is €100,000 annually, while the other four installments – €225,000 annually.

When the first installment is paid at the start of 2015, Moldova will obtain the status of contributor and will receive financing of €20 million from the E5P.

According to the Ministry, Moldova’s accession to E5P will generate projects to increase energy efficiency, especially at municipal companies, to improve street lighting and the heating and water supply systems, and to optimize the use of energy in public buildings.

The E5P is a multi-donor fund initiated in 2009 on the initiative of the Government of Sweden.