The Republic of Moldova will negotiate a loan agreement of approximately 344 million euros with the European Bank for Reconstruction and Development (EBRD) to rehabilitate key roads across the country. The Parliamentary Committee on Foreign Policy approved the advisory opinion on initiating negotiations and signing the loan agreement.
The funds are expected to be used for the rehabilitation and expansion of the R7 road section connecting R14 – Drochia – Costesti – the Romanian border, as well as the M3 route linking Chisinau, Comrat and Giurgiulesti to the Romanian border.
Authorities say these roads are of strategic importance as they are part of the European TEN-T transport network and help connect Moldova’s transport infrastructure with that of the European Union.
In addition to the EBRD loan, the project will receive funding from other sources. These include a grant of up to 11.4 million euros from the EU Neighbourhood Investment Platform, around 7.7 million euros through the European Connecting Europe Facility, and a contribution of up to 34.2 million euros from the government through the Moldova Growth Plan.
After the agreement is signed, it will need to be ratified by Parliament. The project is scheduled to be implemented over a period of eight years.