Moldova to get loan of 60 million euros to modernize energy, railway system
13:45 | 10.11.2022 Category: Economic
Chisinau, Nov. 10 /MOLDPRES/- The Republic of Moldova will benefit from a loan worth 60 million euros, granted by the French Development Agency. Deputies ratified today the Credit Facility Agreement between our country and the French institution.
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 modernization of the railway transport 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.