Mobiasbancă - Groupe Société Générale has signed a financing contract with municipal company IM DCC Comanditar Unic for renovation of the streetlight system in Balti.

The project involves a complex range of measures, including the replacement of the existing light corps, implementation of an IT monitoring system and system maintenance for five  years.

The local council selected the project, proposed by Association of Energy Auditors of Moldova, as the best one for the implementation of the initiative based on an energy audit, financial calculations and identified solutions.

"This is the first project of its kind in Moldova and Mobiasbancă is proud to be the partner bank, offering the necessary financing and counseling throughout its implementation. These kinds of energy efficiency projects are in line with the corporate social responsibility policies of Mobiasbancă and Groupe Société Générale and I hope there will be others implemented all over the country," Ridha Tekaia, the president of Mobiasbancă – Groupe Société Générale, said.

In implementing this project, Balti is complying with the commitment undertaken on July 19, 2011, when signing the Covenant of Mayors, the European movement involving local and regional authorities voluntarily committing to increasing energy efficiency and using renewable energy sources.

The signatories aim to meet and exceed the European Union 20 percent CO2 reduction objective by 2020.

Mobiasbancă is a universal commercial bank serving more than 106,000 active clients in the corporate, SME and retail sectors through a network of 56 branches. The bank is a subsidiary of Groupe Société Générale SA, one of the leading financial institutions in Europe.