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The Council of Europe Development Bank (CEB) will grant Moldova a new 20-million-euro loan to finance the construction of social housing, nursing homes and student hostels.

The Council of Europe Development Bank (CEB) will grant Moldova a new 20-million-euro loan to finance the construction of social housing, nursing homes and student hostels.

The parliamentary press service reported this, noting that the allocation of this loan will envisage a framework loan agreement to be signed by the sides in order to implement the project "Social Housing III". The members of the Commission for Foreign Policy and European Integration approved the launch of negotiations and the subsequent signing of this document. It is planned that 450 social housing units will be built or repaired in Moldova within this project. Student dormitories and nursing homes will also be repaired, which will be used by more than 1,400 people. The works will be financed by CEB, which will provide our country with a 20-million-euro loan for these purposes. At the same time, CEB will allocate a grant of 1 million euros from the Green and Social Investment Fund. The money will be used to improve the energy efficiency and reduce the environmental impact of the residential buildings, the reconstruction of which is planned within the project "Social Housing III". The Commission for Foreign Policy and European Integration approved the conclusion of this financing agreement as well. CEB will repay the loan and the project's investment grant in installments, with the first tranche to be disbursed within 12 months after the agreement takes effect, and the rest based on progress reports on project implementation. Overall, the project will be implemented by 2030. // 05.03.2024 – InfoMarket

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