Sustainable Transition through Energy Efficiency in Moldova Project (STEEM)

The objective of the Scaling Up Energy Efficiency in Europe and Central Asia Program Using the Multiphase Programmatic Approach (MPA) Including Phase 1 Loans to Türkiye and Moldova is to increase energy efficiency savings in participating countries of the Europe and Central Asia (ECA) region and develop enabling policies and programs for the scale-up of energy efficiency. The E3 MPA has two components: component 1, financing the scale-up of EE investments and component 2, policy and regulatory reforms and other enabling activities. Investments under component 1 would result in projected lifetime energy savings and projected lifetime net GHG emissions (prDO-level indicator 2 and corporate scorecard indicator). Activities under component 2 will result in adoption/amendment of policies and regulations to scale up and sustain energy savings (PrDO-level indicator 3). These policy reforms would provide some energy savings during the E3 MPA’s implementation period and pave the way for scaled-up impacts in the years ahead. Moreover, enabling activities under component 2 will also help address many of the policy, financial, informational, and other barriers noted earlier; thus, the programmatic nature of the MPA will better enable the gradual and systematic scale-up of EE investments and private capital mobilized or enabled (PCM/PCE) over time. Energy savings would also enable reduced energy imports and fossil fuel use, reduced global and local emissions, increased economic productivity and jobs, contributing to low-carbon, resilient development.