The loans will be made available for the next five years under Moldovan Residential Energy Efficiency Financing Facility (MoREEFF) via credit lines extended to partnering commercial banks.
Home improvements to be financed under the program will include the installation of energy efficient windows, the insulation of walls, roofs and floors, and the use of gas boilers, biomass-fuelled room heaters, solar water systems, heat pump systems and rooftop solar panels.
Commenting on the development Moldova Minister of Economy Valeriu Lazar remarked that the financing facility will help the nation meet its pan-European sustainable development goals.
"The reduction of energy consumption and CO2 emissions will lower the energy bills of Moldovan households and make them environmentally responsible consumers," said Valeriu.
EBRD financial institutions director Henry Russell added, "We have promoted instruments which are aimed at clients implementing energy saving projects, both private companies and individuals."
In addition to the financing made available by EBRD, Sweden and the European Union will also extend €11m as grant support.
