The European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the E5P investment fund will provide 25 million euro ($26.8 million) in loans and grants to Moldova’s capital Chisinau to improve the energy efficiency of its public buildings, the EBRD said recently.

This is the first transaction under the EBRD’s new Green Cities Framework which supports governments, municipalities, municipal-owned and private companies to address environmental challenges in urban areas, the EBRD said in a press release. In Chisinau, municipal buildings such as kindergartens, schools and hospitals represent a source for considerable energy efficiency, it added.

The EBRD will provide 10 million euro of the total loan to finance the renovation of over 100 buildings. According to the bank’s estimates, investments in insulation and efficiency of building service equipment such as heating, ventilation and air conditioning systems can achieve energy savings of up to 50%.

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