Moldova, Germany to sign financial cooperation agreement

10:46 | 26.08.2020 Category: Economic

Chisinau, 26 August /MOLDPRES/- The government voted on Wednesday to start negotiations and approve the signing of the agreement, drawn up by exchange of notes, between the government of Moldova and Germany on financial cooperation.

The agreement is a bilateral treaty, signed between the governments of Chisinau and Berlin, and will be implemented by the German Bank Kreditanstalt für Wiederaufbau (KfW).

It provides for the granting of additional non-reimbursable financial assistance, amounting to ten million euros (grant) for certain ongoing projects.

Earlier, in May 2019, a financing and project agreement was signed between KfW, the Republic of Moldova (represented by the Ministry of Finance) and the Center Regional Development Agency (ADR Center) on the implementation of the project "Improving water infrastructure in Central Moldova".

The agreement provides for a financial contribution from the Federal Republic of Germany, through KfW, worth 15 million euros, grant, which will be used for expanding Chisinau-Straseni-Calarasi highway. The project will be implemented with the support of ADR Center.

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