The Balti mayor’s office will take out a loan of 50 million lei for extensively repairing and rehabilitating local roads, IPN reports.
In this respect, the Balti Municipal Council approved the draft contract with Moldindconbank, which was selected at a contest that involved three banks. The loan is repayable in 10 years at a flexible interest rate, which this year will be 11.3%. The necessary money will be collected from road taxes.
The repair of roads is one of the basic conditions of the contract signed by the Balti mayor’s office and the EBRD for the provision of financial resources for purchasing 23 new trolleybuses. For the purpose, the municipality approved a road rehabilitation strategy until 2020. Under it, not only the main arteries, but also the streets inside quarters and the sidewalks will be repaired.
An estimated 2 billion lei is needed for rehabilitating all the roads in Balti town.
