The EBRD will extend a $9.56 million loan to BC Mobiasbanca – Groupe Societe Generale SA for on-lending to private companies for energy-saving measures and renewable energy project investments.
Mobiasbanca received a $4.10 million loan earlier this year that it has already used.
The loan will be part of the Moldovan Sustainable Energy Financing Facility II and the financing will be complemented by EU grants to facilitate up to 20 percent of the loan. The financing also engages consultants to provide technical advice as part of the program to provide energy efficiency improvements in the private sector.
Businesses will use the financing to invest in energy efficient equipment and to finance small-scale renewable energy projects.
"We are very happy to top up our engagement in energy efficiency with another loan to Mobiasbancă. We are impressed with the response to the first loan earlier this year and see this as a strong foundation for further successful energy efficiency investments," Octavian Costaș, the acting head of the EBRD office in Chisinau, said.
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