Two projects to rehabilitate roads in the Republic of Moldova, namely the national road M5 Ukrainian border – Criva – Bălți – Chisinau – Tiraspol – Ukrainian border, the Criva – Balti section that forms part of the European transport network, and the national road Bălți – Florești, will be implemented with financing from China CITIC Bank Corporation Limited. The Government approved the initiation of negotiations with the given bank, IPN reports.

The Ministry of Economy and Infrastructure earlier signed a Memorandum with China Hyway Group Limited and Tianjin Oubaiwei Corp LTD, by which the consortium pledged to offer Moldova assistance in obtaining financing for minimum 15 years in advantageous conditions, following the signing of an international contract for the execution of rehabilitation works with it. The document was signed to implement the projects specified in the Government decision adopted today, January 30.

The agreements with the Chinese banks represent a continuation of the road sector program implemented with assistance from international financial institutions whose goal is to support the Republic of Moldova to rehabilitate national roads so as to facilitate road transport and to increase safety and the management capacity.