Moldova to modernize 134 km of road with funding from top European bank
Moldova will rehabilitate 134 km of road, using a loan of up to 344 million euros provided by the European Bank for Reconstruction and Development (EBRD).
In this regard, the government today ruled to launch negotiations for concluding a Loan Agreement with the EBRD, aimed at implementing Moldova’s Road Rehabilitation Project VI.
The loan amount of up to 344 million euros will enable the modernization of strategically important road sections that connect Moldova with Romania and with the European transport network.
At the cabinet meeting, Deputy Prime Minister, Infrastructure and Regional Development Minister Vladimir Bolea said that the financing would allow for the rehabilitation, widening and construction of approximately 134 km of national roads, with a focus on the R7 and M3 corridors, which are part of the Trans-European Transport Network (TEN-T).
In addition to the loan provided by the EBRD, the project will also benefit from European grants, which will allow the investments to be made under financially favourable conditions for Moldova.
According to the Infrastructure and Regional Development Ministry, the investments will help enhance road safety, reduce travel time and transport costs, as well as improve the mobility of people and goods.
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