The period during which the European Investment Bank (EIB) will provide financing for implementing the road rehabilitation project in Moldova will be extended until December 31, 2018. This is provided in an amendment to a contract signed with the EIB on November 23, 2010 that was approved by the Cabinet, IPN reports.
Under the contract, the EIB will offer Moldova a total of €75 million to support the implementation of this project. The repair works were to be carried out in 2011- 2013. But they were executed slower by contractors owing to their low money absorption capacity.
The implementation period of the project was extended until December 31, 2016, but the works continued to be delayed. Therefore, the Government opened talks with the EIB on an amendment to extent the contract with the EIB for two years, which is until December 31, 2018.
