European Investment Bank to continue financing of roads' rehabilitation in Moldova

Chisinau, 15 December /MOLDPRES/ - The contract on financing between Moldova and the European Investment Bank (EIB) for the supply and further carrying out of the project, Moldova Roads III, was signed by Finance Minister Dumitru Budianschi and the chief officer on loans at EIB, Stela Renita, in Chisinau today. To this end, EIB will provide 100 million euros.      

The investment is meant for the financing of the works of rehabilitation of national roads, providing of services of consultancy and technical supervision of works. The following objects will be rehabilitated and built within the project: R34 Hancesti – Leova – Cahul – Giurgiulesti, sector III, Cantemir – Cahul; M3 Chisinau – Comrat – Giurgiulesti – border with Romania, the construction of the lacking sector, the bypass road of the Cimislia town.  

"The implementation of this project will have economic benefits, through the improvement of the state and quality of roads, through cutting the costs of the road transport for the road users from Moldova, including the achievement of the general goal of the transport and logistics strategy for 2013-2022,’’ the Finance Ministry said.

According to Dumitru Budianschi, Moldova’s roads are of great importance for ensuring the transport and commercial flows from Moldova and Ukraine to Romania, to Danube through the Giurgiulesti port and to other EU member states. ‘’A transport system which works well is essential for the economic growth, while the modernization of the road infrastructure, promotion of the regional economic relations and improvement of the traffic safety represent priority in this process. Moldova’s government appreciates the continuous cooperation with EIB,’’ the official noted.    

For his part, Head of the EIB Office in Moldova Alberto Carlei said the road segments concerned by this operation would be rehabilitated according to the best European practices in terms of safety and quality. ‘’The project is expected to improve the connectivity and consolidate the competitiveness. A modern network of road transport is an essential preliminary condition for a quicker economic development, taking into account that the trade through the solidarity ways will grow in continuation, as both Moldova and Ukraine integrate into the EU’s Single Market,’’ Alberto Carlei said.    

Photo: Finance Ministry