European financing for road rehabilitation project to be decided in June

In June 2007, a decision is expected to be taken by the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) on financing Moldova's road rehabilitation programme. A loan of up to EUR 30 million, which Moldova is expecting to receive, were reconfirmed during a bilateral meeting between EBRD president Jean Lemierre and Moldovan president Vladimir Voronin, who participated on Thursday, May 31, in the 28th CIS inter-parliamentary meeting in St. Petersburg. According to the Presidential Press Service, the development perspectives of the road infrastructure and of modern technologies concerning energy conservation in Moldova formed the key part of the discussion between the officials. EBRD official mentioned the need for undertaking the necessary actions to ensure Moldova with its own energy resources and reduce the use of energy for Moldova’s economic growth. Jean Lemierre pointed out that EBRD has a special programme dedicated to the area of energy conservation and that Moldova could benefit from financial assistance in this regard. There have also been discussed issues concerning the development of the Moldovan banking sector. Vladimir Voronin invited Jean Lemierre to visit Moldova, and the EBRD president accepted gladly the invitation, the quoted press release reads.