The Republic of Moldova will borrow 98 million euros for the modernization of roads and border points
The Republic of Moldova will borrow 98 million euros to improve the state of roads and state border crossing points over the next five years. The government is to ratify, in the July 8 meeting, two loan agreements in this regard.
According to the project, the Republic of Moldova will contract a loan of 92.4 million euros from the International Bank for Reconstruction and Development (IBRD) and 5.6 million euros from the International Development Association (AID). These funds will be used within the "Rural Connectivity in Moldova" project to invest in road safety and the modernization of Giurgiulești, Leușeni and Ungheni border points, as well as for the construction and modernization of access roads to these border points.
The Ministry of Infrastructure anticipates that with the implementation of the project, the condition and quality of the road network and border points will be significantly improved. The project aims to reduce road transport costs for users and the waiting time at border points.
Under the project, the loan will allow the Republic of Moldova to align its road infrastructure with international standards and support economic development by facilitating trade and transport.
Also today, the Government is going to ratify a grant agreement with the Development Bank of the Council of Europe, through which the Republic of Moldova will benefit from a grant worth 6 million euros.
The project, part of the "Public Housing III" initiative, aims to reconstruct and modernize public buildings to reduce energy consumption and diversify energy supply sources. This will contribute to improving the living conditions of the inhabitants, say the authorities.
The project will also support the reduction of energy poverty and to increase public awareness of the benefits of energy efficiency, thus contributing to a cleaner and more sustainable environment for all citizens.
