Interest rate on Sinohydro loan for Moldova is 2.7%

The loan of US$62.4 million granted by the Chinese corporation Sinohydro to Moldova is repayable in 20 years. The grace period is eight years, while the interest rate - 2.7%, Prime Minister Vlad Filat said in a press briefing, quoted by Info-Prim Neo. The Premier said the money will be used to reconstruct the Hancesti – Cimislia road and to rehabilitate the road that goes from Chisinau to Balti. The agreement to implement the first project launched by Sinohydro in Moldova was signed earlier this week in China. Lad Filat stressed that while in China he discussed the possibility of exporting Moldovan wines to this country in unlimited quantities. “We do not negotiate with China because we encounter problems in exporting wines to Russia, but because Moldova should not depend on one market. The Chinese market is growing and we should be present there,” said the Prime Minister. The Moldovan and Chinese authorities agreed to cooperate mainly in such areas as agriculture, telecommunications, electronic governance and the energy sector. Moldova received €3,000 in flood cleanup assistance from China as well as equipment for holding video conferences to the value of €800,000 from the company Huawei.