Moldova receives over €244 million in EIB Global financing for energy and hospital upgrades
On 8 July, the European Investment Bank’s development arm (EIB Global) lent Moldova a total of more than €244 million for planned energy and healthcare upgrades in the country.
EIB Global is providing a €143.5 million loan to bolster district heating in the capital Chisinau and a €101 million loan to build a hospital in the southern city of Cahul.
Termoelectrica SA, Moldova’s largest heating company, will carry out the district heating project, which includes replacing outdated vertical systems in apartment buildings with horizontal pipelines, installing individual substations and improving building distribution networks. The moves are projected to cut energy consumption by 25%, lower heating bills, and reduce greenhouse gas emissions by 7% over the next two decades.
The districting-heating works in Chisinau, which has a population of around 750,000, are due to be completed in seven years.
“This project is a strategic investment that will contribute to improving the quality of life for approximately 300,000 households in the city. Through the installation of 2,510 Individual thermal points and the conversion of 1,665 apartment buildings to a modern horizontal distribution system, we will ensure each apartment gains greater control over its consumption, increased energy efficiency, and, consequently, lower bills for citizens,” said Minister of Energy Dorin Junghietu.
The Moldovan Ministry of Health is responsible for the planned hospital in Cahul, southern Moldova. The hospital will serve around 300,000 people in Cahul and neighbouring Moldovan cities including Comrat, Leova, Ceadir-Lunga, Taraclia, Cantemir and Vulcanesti. The hospital is scheduled to be built by 2030.
“We are helping improve daily life for people across Moldova – from better healthcare in the south to more efficient heating in the capital,” said EIB Vice-President Teresa Czerwińska. “We are supporting Moldova’s priorities, strengthening public services, aligning them with European Union standards and improving energy infrastructure to reduce Moldova’s dependency on Russia.”
Both EIB Global loans are being complemented by funding from other sources.
The district-heating project is co-financed by the European Bank for Reconstruction and Development (EBRD) and by grants from the EU and a multi-donor fund known as the Eastern Europe Energy Efficiency and Environmental Partnership (E5P). The hospital project is receiving technical assistance through contributions from the EU, an EIB-focused initiative called the Eastern Partnership Technical Assistance Trust Fund (EPTATF), a Swedish finance institution named Swedfund and the EIB’s own EU for Ukraine Advisory Programme.
Find out more
MOST READ
[popular_posts columns_xl=”4″ columns_l=”4″ columns_m=”3″]
