Several national roads to be rehabilitated with China's support

11:13 | 30.01.2019 Category: Economic

Chisinau, 30 January /MOLDPRES/- The cabinet today approved the decision to start negotiations on draft financing agreements with China Citic Bank Corporation Limited on two road rehabilitation projects in Moldova. The project aims to rehabilitate the national road M5, the border with Ukraine - Criva - Balti - Chisinau - Tiraspol - the border with Ukraine, Criva - Balti, which is part of the European transport network, and the rehabilitation of the national road Bălţi – Floresti.

The Ministry of Economy and Infrastructure has previously signed a memorandum of understanding with the consortium of China Hyway Group Limited and Tianjin Oubaiwei Corp LTD, through which the consortium was committed to provide assistance in obtaining funding for a minimum of 15 years on favorable terms, following the signing of an international contract for execution of restoration works. The document was signed to carry out the projects set in the today’s government decision.

The agreements with the Chinese bank are a continuation of the project to support the road sector program implemented with the support of international financial institutions, aimed to support Moldova in rehabilitating the national road network to facilitate road transport and to improve safety and management capacity.

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