MoREEFF - Moldovan Residential EE Financing Facility

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 43068

Status Complete

Location

Moldova

Business Sector

Financial Institutions

Notice Type

Private

Sub-projects

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 43068

Status Complete

Location

Moldova

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

09 May 2012

Disclosure date

05 Apr 2012

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Sub-projects signed under this framework

Project Description

The EBRD is considering establishing a new financing facility of up to €35 million to support energy efficiency investments in the Moldovan residential sector.

The project will consist of credit lines to local banks for on-lending to individuals, households, groups of residents, housing associations, condominiums and cooperatives as well as housing management companies (HMCOs) and energy service companies (ESCOs) for financing eligible residential energy efficiency improvements.

In addition to the EBRD financing, the facility will be supported by a grant from the EU Neighbourhood Investment Fund to fund incentives to the sub-borrowers and participating banks.

Transition Impact

The Project is expected to have three sources of transition impact:
Demonstration effect and market expansion
The Project will generate transition impact by demonstrating the benefits of energy conservation and promoting the expansion of energy efficiency lending to sectors where commercial financing is absent and in a country characterised by the energy inefficient economy and largely constrained market. In addition, MoREEFF will open the window for financing housing associations /condominiums as well as corporate entities (ESCOs, HMCOs, service companies) on residential energy efficiency projects.
Transfer of skills
The Project is expected to transfer and build expertise and skills on several levels: (i) Participating Banks, (ii) sub-borrowers and local experts and technology providers. As the first residential energy efficiency financing vehicle in Moldova, MoREEFF will address the currently untapped private housing sector and increase stakeholders’ awareness, as well as build market capacities.
Strengthening the structure and extent of markets / promoting policies that support markets
The Project will support the ongoing legislative changes in the area of energy efficiency of buildings and housing regulations.

The Client

MoREEFF will be available to privately owned banks in Moldova (Participating Banks or PBs).

EBRD Finance

€35 million.

Project Cost

€35 million.

Environmental Impact

Screened FI. PBs will be required to comply with the EBRD’s Performance Requirement 2.

Technical Cooperation

Technical cooperation will be funded by Swedish International Development Cooperation Agency and the European Union.

EBRD will engage a project consultant to support the partner banks and sub-borrowers with project preparation and implementation.

PSD last updated

27 Mar 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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