Over 300 kilometers of local roads to be rehabilitated in Moldova thanks to World Bank loan

17:46 | 25.09.2015 Category: Economic

Chisinau, 25 September /MOLDPRES/ - The World Bank will offer the Moldovan government a loan amounting to 80 million dollars to rehabilitate over 300 kilometres of local roads. Negotiations on the draft agreement on financing to carry out the Improving Local Roads project were finalised today, according to the Transport and Road Infrastructure Ministry.

The loan will be offered for a period of five years with an interest rate of 0.5 per cent per year for the Funding Agreement and 0.25 per cent per year for the Credit Agreement respectively.

The money will be given by the International Development Association and the International Bank for Reconstruction and Development, both being World Bank structures.

The financial means will be used to finance the rehabilitation and modernisation works for more than 300 kilometres of local roads, ensuring access to educational and medical institutions through a safe and sustainable road infrastructure.

After the agreement will be signed, it will pass to the Moldovan parliament for ratification.

(Reporter V. Bercu, Editor A. Raileanu)

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