The European Investment Bank (EIB), the bank of the European Union, and the Ministry of Finance of Moldova signed an agreement for a €100 million increase to the original €150 million loan for the rehabilitation and upgrading of key national road sections, IPN reports, quoting a press release of the EIB. These sections are mainly on the extended trans-European transport network (TEN-T) and the Solidarity Lanes going through Moldova, contributing to better integration with the European Union.
With this loan increase, EIB Global plans to finance the rehabilitation of an additional 42 km of national roads and the construction of approximately 7 km of national roads in Moldova. The new operation will finance improvements to the Hîncești–Leova–Cahul–Giurgiulești national road. The other segment involves the construction of a bypass around the town of Cimișlia to shift transit traffic on the TEN-T road away from the town Centre.
The EIB loan supports the goals of the EU Economic and Investment Plan for Moldova in the transport sector by spurring regional and national economic growth, facilitating trade, and supporting private sector development. This financing is covered by the Neighbourhood, Development and International Cooperation Instrument — Global Europe (NDICI — Global Europe) comprehensive guarantee.
On the occasion of the signing of the agreement, Minister of Finance of Moldova Dumitru Budianschi said Moldova’s roads are vitally important for transport and for ensuring uninterrupted trade flows from Moldova and Ukraine to Romania, to the Danube River through the Moldovan port of Giurgiulești, and to other EU countries. “A well-functioning transport system is critical for economic growth. Upgrading Moldova’s road infrastructure and promoting regional economic links while improving road safety and saving lives is a winning combination. The government appreciates the continued cooperation with the EIB and this timely investment,” stated the minister.
EIB Vice-President Teresa Czerwińska, who is in charge of operations in Moldova, said: “We are quite literally paving Moldova’s roads to the European Union. The expansion and upgrade of road routes in Moldova has become an even higher priority since the beginning of the war in Ukraine, contributing to the EU-Ukraine Solidarity Lanes and the Black Sea Grain Initiative.”
The signing ceremony involved Alberto Carlei, Head of EIB Representation for Moldova, and Ambassador of the European Union to the Republic of Moldova Jānis Mažeiks, who said that the signature of this investment agreement between the EU bank — the EIB — and the Republic of Moldova is proof of the EU’s continued support for the country’s economic development. “A recent example is the road linking Chișinău to Ungheni at the Romanian border. We are glad that the beneficiaries of our assistance — the people of Moldova — can already benefit from it,” noted Jānis Mažeiks.
