Two strategic routes of Moldova to be rehabilitated with support of top European bank
Two strategic routes of Moldova will be modernized with the support of the European Bank for Reconstruction and Development (EBRD). Moldova is to negotiate a loan agreement worth approximately 344 million euros for the rehabilitation of the R7 and M3 roads.
The parliamentary commission for foreign policy today approved the consultative opinion for negotiating and signing the loan agreement between Moldova and the EBRD, meant for the implementation of the Sixth Road Rehabilitation Project in the country.
Under the project, the R7 – R14–Drochia–Costesti–border with Romania road and the M3 – Chisinau–Comrat–Giurgiulesti–border with Romania route will be rehabilitated and widened.
According to the document, these roads are of strategic importance for regional connectivity and Moldova’s integration into the European transport area, as they are part of the European Union’s TEN-T core network.
The project will benefit both from financing through the EBRD loan and from non-reimbursable sources. Thus, a grant of up to 11.4 million euros is planned from the Neighbourhood Investment Platform of the European Union, a grant of about 7.7 million euros through the Connecting Europe Facility, as well as a contribution from Moldova’s government of up to 34.2 million euros, provided through the Growth Plan for Moldova, offered by the European Union.
After the loan agreement is signed, it is to be ratified by the parliament.
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