The Cabinet approved the initiation of negotiations and signing of Amendment No. 1 to the financing contract between the Republic of Moldova and the European Investment Bank (EIB) for implementing the project to rehabilitate roads in Moldova, IPN reports.
The amendment extends the time limit by which the money provided under the financing contract will be disbursed until June 25, 2022 following the prolongation of the national road rehabilitation works and the non-utilization of about €100 million of the financing provided by the EIB for implementing the project.
“The goal of the extension is to facilitate access to the funds needed to finance the rehabilitation works and consultancy services in the project supervision and implementation process. This refers especially for the roads R16 Balti – Falesti – Sculeni - Ungheni and M3 Chisinau – Comrat – Giurgiulești – at the border with Romania, Porumbrei – Cimislia and the road that bypasses Comrat town,” explained Minister of Economy and Infrastructure Kiril Gaburici.
The financing contract between the Republic of Moldova and the European Investment Bank for implementing the project to rehabilitate national roads was signed in Luxembourg on June 25, 2013.
