Two European banks to finance restoration of three national roads in Moldova

17:05 | 07.10.2020 Category: Economic

Chisinau, 7 October /MOLDPRES/ - The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) will provide Moldova with a loan 300 million euros for the restoration of the national roads M2, M3 and M5.

Economics and Infrastructure Minister Sergiu Railean submitted an application on financing to these two financial institutions and has recently received a confirmation on its approval. Under the agreement, the money will be used for the rehabilitation and modernization of segments on three principal roads: M2, M3 and M5.

The financing meets the goals of investments of the European financial institutions for the Eastern Partnership region, agreed upon with the European Commission in 2019. ‘’Besides the financing of capital investments, the framework-loan will be also a catalyst for the use of technical assistance resources, to prepare a line of derivate investments in the roads’ infrastructure,’’ the Economics Ministry (MEI) said.

The project will be carried out by the State Administration of Roads and the period of implementation is to be negotiated and established in the agreement on financing.

Photo source: MEI

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