Moldova Agroindbank received the EU-EBRD Award "For its contribution to the financing of sustainable energy"

Moldova Agroindbank received the "EU-EBRD Sustainable Energy Excellence 2012 Award" within the MoSEFF Line (Moldova Energy Efficiency Financing Line Project), developed by the European Bank for Reconstruction and Development and the European Commission.

The Bank obtained the Diploma "For Commitment to Sustainable Energy Financing" in a festive ceremony held with the participation of Mr Ilarion Popa, Deputy Minister of Economy; Ms Julia Otto, Head of the EBRD Chisinau Office; Mr Ian Smith, Senior Manager, Energy Efficiency and Climate Change Team, EBRD, London; Mr Henry Russell, Director, EBRD Financial Institutions Team, London; Mr Wolfgang Behrendt, Delegation of the European Commission; Mr Tino Mahler, MoSEFF Project Manager, Fichtner GmbH & Co. KG.

The diploma was awarded to the Bank as a confirmation of the contribution made to the financing of projects to increase energy efficiency, including by reducing energy or fuel consumption, with the effect of lowering costs and, respectively, increasing the competitiveness of enterprises.

The most relevant energy efficiency projects, with the support of MoSEFF, offered through MAIB, are the projects carried out by the Hotel Vila Verde from Ungheni and the cannery Orhei-Vit SA.

Vila Verde Hotel in Ungheni, holder of the Award for the best solar energy recovery project, invested 280,000 Euros in installing one of the largest solar systems in the Republic of Moldova and, at the same time,, improved the insulation of the building and heating system. The investment allows the company to reduce final energy consumption by 80% annually.


Orhei-Vit SA, the holder of the Award for energy efficiency in the food sector, installed new steam boilers worth 520,000 Euros through the MoSEFF loan granted by Moldova Agroindbank, managing to reduce natural gas consumption by 24% annually.

ORHEI - VIT movie

At the awards ceremony, Serghei Cebotari, Vice President of BC "Moldova Agroindbank" SA, expressed the Bank's gratitude for the excellent cooperation with the EBRD and the European Commission in the MoSEFF project.

„Our clients particularly appreciate the advantageous financing conditions, including the grant component of the project, as well as the free technical assistance provided by MoSEFF experts. I congratulate my colleagues from Moldova Agroindbank, as well as from other participating banks, for their success. I also express the gratitude of our Bank for the trust given by the EBRD and reiterate the interest and availability for the continuous promotion of the project, capitalizing on the positive and beautiful history of cooperation so far", underlined Serghei Cebotari.

"With these awards, the EBRD emphasizes not only its continued contribution to supporting energy efficiency in Moldova but also to support the country's banking sector. The commitment of the participating financial institutions and their close interaction with the MoSEFF implementation team is key to the success of this program", said Henry Russell, Director for the Western Balkans, Croatia, Moldova and the Republic of Belarus, Financial Institutions, EBRD.

"Financing energy efficiency and renewable energy are one of the priorities of the EBRD strategy in the Republic of Moldova. We are dedicated to contributing to the joint efforts of the Government of the Republic of Moldova and the donor community to reduce the country's energy intensity. We will continue to provide financing, both directly and through partner banks, to companies that carry out projects in the field of energy efficiency and renewable energy. The EBRD in the Republic of Moldova is making considerable efforts to raise awareness of the benefits of investing in energy efficiency through financing, technical assistance and political dialogue", said Julia Otto, head of the EBRD Office in Moldova.

Launched in 2010, MoSEFF is an EBRD loan line worth 20 million euros to finance energy efficiency and renewable energy projects in Moldova through partner banks. In addition, when funding is provided through local banks, MoSEFF is supported by a technical assistance program and an attractive grant component funded by the EU (INOGATE). Technical support is provided by Fichtner and Allplan consultants.

Projects carried out under the MoSEFF project have contributed to an annual primary energy saving of 61,700 MWh and a total reduction in CO2 emissions of around 24,178 tonnes per year. These savings are equivalent to the yearly energy consumption of about 27,400 citizens, and the reduction in CO2 emissions equals the annual emissions of 17,000 cars. For investment companies, the benefits are much more noticeable, as they have reduced their energy costs and subsequently increased their profitability and competitiveness.

Euro through SEFF facilities. MoSEFF is part of the Energy Efficiency Financing Facilities (SEFFs), successfully implemented by the EBRD in 15 countries, between Poland and Kazakhstan. To date, the EBRD has provided more than $ 1.8 billion.

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