Project Description

Residential Green Economy Financing Facility Moldova (the “Facility”, the “Framework” or “Residential GEFF Moldova”) is envisaged to provide up to EUR 40 million equivalent to local Partner Financial Institutions (“PFIs”) for on-lending to the residential sector (individuals, housing associations, service providers, technology vendors and producers, and construction companies along the residential building supply chain) for green economy investments in Moldova. The Facility will be also available in local currency which is crucial for residential borrowers.

The Facility will be supported by donors such as the European Union (“EU”) and the government of Norway through High-Impact Partnership on Climate Action (“HIPCA”) for the financing of Investment Incentive payments, first loss guarantee in support of the local currency operations and Technical Cooperation (“TC”) under the Facility.




Project Objectives

The Facility will aim to contribute to the green economy market development in Moldova by (i) increasing awareness, as well as capacity and involvement, of the population and private sector participants in residential green economy investments, (ii) improving living comfort and affordability of utilities for households, (iii) strengthening local production and supply base for green technologies and materials, and eventually (iv) delivering sizeable resource savings in Moldova.





Transition Impact

The proposed Framework will contribute to the Green TI quality by helping address the high energy and carbon intensity of the residential sector in Moldova through developing the capacity of local PFIs to provide green lending that will drive Moldova’s transition to an environmentally sustainable, lower-carbon and climate-resilient green economy.






Client Information

PFIs will be commercial banks, non-bank microfinance institutions, and leasing companies operating in Moldova.






EBRD Finance Summary




EUR 40,000,000.00







Total Project Cost



EUR 40,000,000.00







Additionality

Additionality is achieved by combining the necessary long-term financing in the form of credit lines, with technical support, targeted investment incentives and policy dialogue into a package that promotes the country’s green transition through green economy investments.





Environmental and Social Summary

Categorised FI (ESP 2019). This framework is not categorised. However, individual operations will be classified as FI and undergo environmental and social due diligence. New clients must complete an environmental and social due diligence questionnaire, while existing clients will have their previous annual reports reviewed, and any identified gaps will need to be addressed. All clients supported under this Framework are required to comply with the EBRD’s Performance Requirements 2, 4, and 9. Should implement/maintain an environmental and social management system to assess, manage and monitor environmental and social risks and impacts associated with the sub-projects financed, apply the Exclusion and the Referral Lists as outlined in the ESP 2019, and submit annual environmental and social reports to the EBRD.

Clients must also meet the eligibility criteria for renewable energy projects and other criteria defined in the EBRD’s Green Economy Policy Statement. A facility consultant appointed by the EBRD will confirm compliance.





Technical Cooperation and Grant Financing

The Facility will be supported by a GEFF TC package with the objective of transferring know-how and raising awareness about investments in energy efficiency and / or renewable energy measures in the residential sector, fostering a green and inclusive economy transition in Moldova.





Company Contact Information

Alena Sezianeuskaya
sezianea@ebrd.com
+370 61872431







PSD last updated


23 Dec 2024

























Understanding Transition


Further information regarding the EBRD’s approach to measuring transition impact is available here.



Business opportunities


For business opportunities or procurement, contact the client company.


For business opportunities with EBRD (not related to procurement) contact:


Email: projectenquiries@ebrd.com


For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

Email: procurement@ebrd.com



General enquiries


Specific enquiries can be made using the EBRD Enquiries form.



Environmental and Social Policy (ESP)


The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.


More information on the EBRD’s practices in this regard is set out in the ESP.



Integrity and Compliance


The EBRD’s Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.


OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank’s countries of operation. The information provided must be made in good faith.



Access to Information Policy (AIP)


The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.


Specific requests for information can be made using the EBRD Enquiries form.



Independent Project Accountability Mechanism (IPAM)


If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).


IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.


Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.