EBRD and European Investment Bank will provide Moldova with the loan of 60 mln. euros for roads’ rehabilitation.
It is presupposed by the loan agreements on the project: “European roads in Moldova” signed in Chisinau on Thursday. It is presupposed that EIB and EBRD will provide Moldova with 30 mln. euros each, payable in 15 years with 3-5 years deferment term. Interest rate will fluctuate: euro + libor with the margin up to 1%. In correspondence with the agreement, EIB and EBRD will allocate the loan to Moldova in two phases: 12,5 mln. euros at the first stage and 17,5 mln. euros at the second one. Together with EIB and EBRD, WB will be also engaged in the project of roads’ rehabilitation in Moldova; having decided to allocate $16 mln. payable in 40 years. As the minister of finance Mikhail Pop informed, total cost of the project is estimated as $105-110 mln. In time of the first stage, it is planned to restore 200 km. of roads and 300 km. within the second stage, respectively. As the minister of transport and road facilities of Moldova Vasile Ursu noted, the project will be launched in the beginning of 200. First it is planned to restore roads of national value Chisinau -Balti and Chisinau –Hincesti. As the vice president of EIB Tornsten Gersfelt announced, the current project will be the first one financed by EIB in Moldova. The project of road’s rehabilitation is launched within the policy of good neighborhood of EU. First of all, it is planned to restore the roads of national value-from Chisinau up to Romanian border. As the director of the department of infrastructure of EBRD Alexandr Auboek noted, development of infrastructure will stimulate business activity. As the minister of finance Mikhail Pop mentioned, the target of the project of road sector facility is reduction of transport fares by means of improving quality of roads and their management.