In the Republic of Moldova, 450 social housing units will be built for 1,600 beneficiaries who will be able to rent housing spaces at an affordable price. At the same time, student dormitories and retirement homes for another 1,460 beneficiaries will be rebuilt. In this regard, the Cabinet approved the ratification of the Framework Loan Agreement and the Grant Agreement between Moldova and the Council of Europe Development Bank (CEB) for the Social Housing III project, IPN reports.

“The project will contribute to increasing the capacity of the public housing intended for socially vulnerable people who do not have satisfactory living conditions, as well as for public sector employees providing social and administrative services. Also, the accommodation spaces of educational institutions will be modernized and the accommodation spaces of placement institutions for the elderly will be rehabilitated or extended,” the Government specified.

Thus, for the implementation of the Social Housing Project III, CEB will provide a loan of €20 million. Also, a €1 million grant will be offered by the Green and Social Investment Fund for implementing energy efficiency measures. The financial contribution will be supplemented with another grant of €6 million from the E5P fund. Moldova’s financial contribution will amount to €1.1 million.