Moldova is initiating negotiations with the European Investment Bank on the provision of 150 million euros for the implementation of the project "Roads of Moldova IV".
The corresponding draft financing contract between Moldova and the European Investment Bank on the implementation of the project "Roads of Moldova IV" was approved by the government at a meeting on Wednesday. As Deputy Prime Minister, Minister of Infrastructure and Regional Development Andrei Spinu explained, this project is a logical continuation of previously implemented projects for the rehabilitation and construction of about 500 km of national roads. As expected, within the framework of the project, the EIB will allocate 150 million euros for the rehabilitation of three road sections: M5 - Border with Ukraine-Сriva-Balti-Chisinau-Tiraspol-border with Ukraine, on the section Сriva-Balti, 133 km long (approximate cost of work - 129 million euros); M2 - ring road around Chisinau on sections 2 and 3, with a length of 17.35 km (approximate cost of works - 52 million euros); M3, Chisinau-Comrat-Giurgiulesti-border with Romania, section of the bypass road in Cimislia (9 million euros). The EIB loan is co-financing, half of the funds for the implementation of the Roads of Moldova IV project is expected to be allocated by the European Bank for Reconstruction and Development. The contract also provides for a grant component in the amount of 10 million euros, which will be provided by the European Union in the form of technical assistance provided for the countries of the Eastern Partnership. The contract with the EIB provides for 12 clauses, which stipulate all the terms of financing, the amount of the loan, the period of availability of funds, the responsibility of the parties, etc. All work on the rehabilitation and construction of roads under the contract will be carried out after a feasibility study. The government has also approved the composition of a negotiating group that will be authorized to negotiate with the EIB on a financing contract. It will include representatives of the Ministry of Infrastructure and Regional Development, the Ministry of Finance, the Ministry of Justice, and Deputy Prime Minister Andrei Spinu is authorized to conclude the contract. // 24.11.2021 — InfoMarket.
