London-based development lender the European Bank for Reconstruction and Development (EBRD) has supplied a €5 million loan to Moldova‘s largest commercial bank to finance climate change mitigation and adaptation measures.
A press release published by the EBRD listed “photovoltaic generation and energy storage systems” for households and businesses of all sizes as eligible for funding by the credit line, which will be distributed by Moldova Agroindbank SA.
The loan, which has been provided through the EBRD's Green Economic Financing Facility (GEFF), is made up of €3.75 million of bank funds plus €1.25 million of concessional lending from global climate mitigation cash pot the Green Climate Fund. Although the EBRD has a strong relationship with Moldova Agroindbank, the loan will be the first activity by its GEFF vehicle in the nation.
The EBRD, in a press release issued on December 22, stated the money could also be used for projects such as “thermal insulation for buildings, energy-efficient glazing, LED lighting, heat pumps [and] electric vehicles as well as drip irrigation lines, conservation agriculture machinery and rainwater harvesting equipment.”
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.