Moldova to borrow 60 million euros to modernize energy, railway system
12:41 | 09.11.2022 Category: Economic
Chisinau, Nov. 9 /MOLDPRES/- Moldova will get a loan worth 60 million euros by the French Development Agency. The parliamentary commission on foreign policy and European integration approved an agreement in this regard today.
Under the document, the money will be used to strengthen social protection programs, to mitigate the impact of rising gas prices and to adopt reforms to develop renewable energies. Also, the financial resources will be used for the adoption of a new railway transport code and the reform of the sector.
The loan to be contracted provides for a maturity of 15 years, including the five-year grace period. Its repayment will be made twice a year, in 20 equal installments. The loan will be disbursed in a single installment, the deadline is 13 October 2023.