Moldova to Take a 300 mln. Euro Loan to Restore National Roads

The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) will provide Moldova with a 300 million Euro loan to restore the M2, M3 and M5 national roads. The Minister of Economy and Infrastructure Sergiu Railean applied to these two financial institutions for funding and has recently received confirmation of its approval. According to the agreement, the money will be used to rehabilitate and modernize sections on three principal roads: M2, M3 and M5. The financing meets the investment goals of the European financial institutions for the Eastern Partnership region agreed upon with the European Commission in 2019. Besides the capital expenditures financing, the framework loan will also catalyze the use of technical assistance resources to prepare a line of induced investment in road infrastructure. The project is implemented by the State Administration on Roads. The implementation period for the project is to be negotiated and set in the financing agreement.