Moldova will receive a 150 million euros loan from the EBRD to implement the Road Rehabilitation Project (V).
The government approved at a meeting on Wednesday the launch of negotiations on a draft loan agreement between Moldova and the European Bank for Reconstruction and Development (EBRD), approving the nominal composition of the negotiating group. The draft loan agreement envisages that Moldova will benefit from a 150-million-euro loan from the EBRD to co-finance the project at 50 per cent. The funds will be used for the repair and modernization of 2 sections of national roads: on the M2 highway - the ring road near Chisinau, sector 2 (widening to 4 lanes), a section of about 7 km; on the M1 highway - border with Romania - Leuseni - Chisinau - Dubasari - border with Ukraine (repair), a total of about 85 km. The loan agreement will stipulate all parties, reimbursement procedure, responsibility of the parties, etc. The loan will be provided in 2 tranches - 90 million euros (with a repayment period until July 25, 2041) and 60 million euros (until November 25, 2042). The loan rate is variable and the commitment fee will be 0.5%. The implementation of the project is expected to improve the condition and quality of the road network. It is worth noting that the project will be co-financed by the European Investment Bank, which will provide 150 million euros based on the agreement signed in March 2022. // 08.11.2023 - InfoMarket
