Moldovan government approves ratification of amendment to contract with European Investment Bank on roads' restoration

16:01 | 18.11.2020 Category: Economic

Chisinau, 18 November /MOLDPRES/ - The cabinet members, at a today’s meeting, ruled to approve the draft law for the ratification of the Amendment No 3 to the contract on financing between Moldova and the European Investment Bank (EIB) for carrying out the project on roads’ restoration in Moldova, signed on 23 November 2010. The draft is to be submitted to parliament for consideration.

Under the decision, the cabinet will undertake needed measures for carrying out the provisions of the aforementioned amendment and the Finance Ministry will notify EIB about its ratification.

The financing contract from 23 November 2010, signed between Moldova and the European Investment Bank, worth 7.5 million euros in all, was ratified by the Moldovan parliament on 21 April 2011 and was subsequently changed through the Amendments No 1 and No 2, ratified by the parliament in March 2018. The contract’s resources are meant for works of restoration of national roads, providing consultancy services for implementing projects and of technical supervision of the restoration works.

The amendment No 3, elaborated by EIB for changing the provisions of the financing contract, which refer to the final availability date and respectively, to the margin set for the installments disbursed from the loan and other financial aspects related to extending the loan’s validity period.

Photo: BEI

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