Financing contract between Moldova, European Investment Bank to be extended

Chisinau, 18 November /MOLDPRES/ - The contract on financing between Moldova and the European Investment Bank (EIB) for the carrying out of the project on roads’ restoration in Moldova will be extended, in order to turn to account the financial means available and necessary for financing the works of reconstructing two segments or roads on the national road Chisinau-Ungheni. To this end, the cabinet approved a draft law on the ratification of the Amendment No 3 to the contract on financing, the government’s communication and protocol department has reported.      

„The first contract provides for the repair of the Chisinau-Straseni road; the works were implemented at the level of 68 per cent and today we have an unpleasant anniversary, 4 years ago the road segment should have been made available for use. The second contract sees reconstruction of 44 km of road, from Straseni up to the Bahmut village. In this case, the making the segment available for use is planned till late 2020,’’ Economics and Infrastructure Minister Anatol Usatii said at the cabinet meeting.  

Thus, the loan’s availability was extended till 30 November 2021 and of the project works – till 31 December 2022. The overall value of the concerned amendment is 75 million euros, provided as loan.   

Under the contracts on carrying out roads’ restoration works, entrepreneurs are imposed penalties for delays in works worth up to 10 per cent of the contract’s value. On 7 May 2020, the penalties’ sum stood at 2.75 million euros. These financial resources will be used for project’s activities.  

Photo: Government