The European Development and Investment Fund for Moldova (EDIFM) has officially started its activity in the Republic of Moldova. The fund has announced its investors that after a long and constant analysis of several projects 'feasibilities which applied to the fund, the first project will be approved by the end of September this year and will confirm the fund's intention to invest in ECOVERDE ® project, in the first location within the Republic of Moldova.
"The fund analyzed in the first stage 3 cities projects which applied for financing and Grants of EDIFM. One of the projects has reached the final stages of approval and will probably be confirmed by 28.9.2010.
The projects which applied until now, are under ECOVERDE ® program and deal with waste treatment turn- key solution which will be implemented in cities in Moldova", stated the memorandum for investors.
ECOVERDE project is a unique environmental program which implemented a waste management solution through private entities, for each city as an autonomous unit. The project was found highly eligible according to the guide lines of the EDIFM board of investors. The fund is showing interest to provide the requested financial support which will reach 28 million euro this year only. Moreover,it is showing signs of intention to allocate more funding for this project in the following 2 years .
For the first project that will be approved, EDIFM investment will sum up to approximately 7 m € and the rest will be obtained through co-financing in order to reach 100% financing in total.
This syndication was achieved based on several collaborations created by Mentor Finance, a leading European financier which created a joint venture with EDIFM management to the benefit of Moldavian projects.
"The investment was verified and thoroughly analyzed. The project reflects a low risk approach , combining state of the art technology imported from the EU, a hard core of financial feasibility based on guaranteed incomes , and also support for the Eastern European waste problems and the local community , one of the main aspects which EDIFM is based on" as stated in the memo.
The Fund has also stated its interest in financing more ECOVERDE® locations that already applied for financing in the Republic of Moldova, stating the ECOVERDE , rated as a" low risk" and high profit generator investment, can achieved maximum financial support as long as more cities will apply and will be found eligible.
EDIFM has the intentions to also start financing ECOVERDE® in Ukraine beginning with 2011
