enroru

Start-ups and innovative ideas in green technologies may be financed under the GEFF conditions

Close Up Of Team In Workshop Assembling Hand Built Sustainable Bamboo Bicycle Frame

The Green Economy Financing Facility (GEFF Moldova) signed a memorandum of cooperation with the Energy Efficiency Agency (EEA) in order to jointly promote investments in resource efficiency and renewable energy. GEFF Moldova is a program developed by the European Bank for Reconstruction and Development (EBRD), which provides Moldovan companies and the residential sector with a financing line of 20 million Euros, through local financial institutions, as well as free consulting services for the implementation of green projects by a team of local and international GEFF technical experts. GEFF in Moldova is supported by the Green Climate Fund and the Turkish Ministry of Finance and Treasury.

Under the memorandum, GEFF and the EEA will jointly organize information activities for economic operators on the best technologies on the market and their financing opportunities.

GEFF funding will also be available to companies participating in the “Clean Technology Innovation Program for SMEs and Start-ups in the Republic of Moldova”, implemented by the EEA and funded by the United Nations Industrial Development Organization (UNIDO). Under the program, the five companies will be awarded grants from AEE in the amount of 10 thousand dollars for the development of the innovative business idea. At the same time, the participating companies will have access to financing for the implementation of their projects, under the GEFF conditions:

• up to 300,000 Euros for off the shelf and pre-approved technologies, which include high-performance equipment and materials from the Green Technology Selector;
• up to 5 million Euros for larger energy efficiency and renewable energy projects in the non-residential sector, together with free technical assistance by GEFF experts in designing the project;
• up to EUR 500,000 for larger energy efficiency and renewable energy projects in the residential sector, together with free technical assistance by GEFF experts in designing the project.

The following categories are eligible for financing under GEFF conditions:

• individuals owning or residing in a building or apartment in which they intend to implement an eligible investment;
• private companies, enterprises, firms, sole proprietors or other legal entities;
• vendors of equipment or materials eligible in the Green Technology Selector, interested in participating in the supplier financing program;
• manufacturers of “green” technology, listed in the Green Technology Selector, who intend to support or expand the “green” part of their business.

GEFF is a program of the European Bank for Reconstruction and Development (EBRD), implemented in 27 countries, which provided financing of over 4.6 billion EURO for more than 190 thousand companies and individuals, thus avoiding over 8.6 million tons per year of CO2 emissions.