Moldovan cabinet approves starting talks on extending term of financing project on roads' restoration by top European bank

Chisinau, 18 July /MOLDPRES/ - The cabinet of ministers today approved the starting of negotiations and approval of the signing of the Amendment No 1 to the contract on financing between Moldova and the European Investment Bank (EIB), for carrying out the project on restoration of roads in Moldova, till 25 June 2022.  

At the cabinet meeting, Economics and Infrastructure Minister Chiril Gaburici said that the extension of the final date of availability of financial means was dictated by the promulgation of the duration of the works for restoring national roads and the sum unused from the project, worth about 100 million euros.   

„The extension is aimed at facilitating the availability of the financial means, in order to finance the restoration works, consultancy services and supervision of the works and the project’s implementation. This will be carried out, especially to rehabilitate the roads R16 Balti-Falesti-Sculeni-Ungheni and M3 Chisinau-Comrat-Giurgiulesti-border with Romania, the segment Porumbrei-Cimislia and the bypass road of the Comrat city,” the economics and infrastructure minister said.   

The contract on financing between Moldova and EIB for the carrying out of the project on roads’ restoration in Moldova was signed in Luxembourg on 25 June 2013.

(Reporter V. Bercu, editor L. Alcaza)