The European Bank for Reconstruction and Development would Provide Moldova with a 15 Million Euros Loan for Modernizing the Thermal Energy System
The European Bank for Reconstruction and Development would provide Moldova with a loan of 15 million euros for the modernization of the thermal energy system of Bălți, in particular, of the enterprise “CET-Nord”. A draft in this regard was endorsed on Wednesday, November 17, by the Committee on Foreign Policy and European Integration.
The document provides for the initiation of negotiations on the draft Loan Agreement between Moldova and the EBRD in order to implement the project “Thermal Energy System of Balti Municipality (JSC” CET-Nord “)” – Phase II.
The project aims to increase the quality of service provided to residents by restoring the domestic hot water delivery system, implementing the horizontal distribution system intrablock, ensuring thermal comfort in buildings by individual management of heat consumption, optimizing operational costs, control and monitoring centralized remote control, reduction of heat loss, etc.
The provisions result from the need to honor the commitments assumed by our country in the field of sustainable development, energy efficiency, and achieving the objectives of the Energy Strategy of Moldova by 2030.
In order to carry out the project, Moldova will contract a loan of 15 million euros from the EBRD, as well as a grant of 2 million euros offered by the Eastern European Partnership for Energy Efficiency and Environment.
The total budget of the Project is 17 million euros, with an implementation period of 3 years (2022 – 2025).