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.
- ASIAN DEVELOPMENT BANK: Green and Blue Finance Will Help Bridge Infrastructure Investment Gap in Southeast Asia
- INTERNATIONAL MONETARY FUND: World Bank and IMF Officials Visit Morocco to Prepare 2021 Annual Meetings in Marrakech
- GOVERNMENT OF BELARUS: Lukashenko: Time to demonstrate our ability to solve problems in two pre-election years
- GEORGIAN CHAMBER OF COMMERCE AND INDUSTRY: Georgian Chamber of Commerce and Industry responds to the promotion of Georgia in the EuCham ranking
- EURASIAN DEVELOPMENT BANK: The Ministry of Finance proposed to establish the amount of bank guarantees of VEB.RF and EDB for customs
- CONVERSE BANK - ARMENIA: Converse Bank offers online loans at a low effective interest rate
- BANK OF GEORGIA: Bank of Georgia opened a new branch of property management accumulated in the historical building
- BANK OF MOSCOW - RUSSIA: VTB patents a multi-issuer blockchain system
- EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT: EBRD investment in Western Balkans tops €1 billion in 2018
- CONVERSE BANK - ARMENIA: Two medical centers in Armavir region got new equipment and furniture thanks to Fruitful Armenia Foundation