Moldova: World Bank Approves $10 Mil. for Energy II Project
On Jan 29, 2008, the World Bank Board of Directors approved an additional credit to the Republic of Moldova in the amount of US $10 million for the Energy II Project. The additional financing will complement the original credit of US $35 million and will be used for scaling-up heating supply and improving the efficiency of heating services in the country.
“The Energy II Project has had a major impact on the rehabilitation of the energy system in the Republic of Moldova,” said Tudor Copaci, Deputy Minister of Economy and Trade. “The quality and efficiency of heating supply has improved substantially. The heating losses in the system were reduced considerably. The expenses for the purchase of heating were cut dramatically.”
The Energy II Project was launched in March 2004. The project’s objectives are:
* To improve the security and reliability of the electricity transmission system and facilitate unimpeded commercial operation of the power system (electricity component); and
* To improve the availability, quality and efficiency of heating in selected buildings (heating component).
“We managed to extend cheaper and more efficient heating and hot water to a large number of social institutions, and to provide regular heating to households where access had previously been intermittent,” underlined Melanie Marlett, World Bank Country Manager for Moldova. “These improvements have had a vital impact on people’s lives and wellbeing, and a lasting effect on the environment.”
The US $10 million approved today will be directed towards scaling-up funding under the heating component.
To date, the original credit enabled over 35 schools, hospitals, and kindergartens, in addition to 37 residential buildings, to renovate or install new heating systems. Over 8,000 students, approximately 1 million patients/staff/visitors and over 2000 families are benefiting from improved heating and hot water availability. Moreover, the reduction in greenhouse gas emissions achieved under the project, has meant that local authorities are now able to take advantage of carbon financing.
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