Moldova’s Parliament ratifies CEB loan agreement for social housing programme

Parliament has ratified a frame agreement with the Council of Europe Development Bank (CEB) for the provision of a 4.9 million euros loan for the partial funding of the social housing project. The total cost of the project amounts to 7.6 million euros. The Government pledged to contribute 2.7 million of the sum. The loan is repayable in 20 years, including the 5-year grace period. The interest will be subsidised under concessional terms from a Selective Trust Account donation. Under the agreement, Moldova commits itself to ensure an efficient implementation and rigorous supervision of the project, and upon its completion, to elaborate a final report containing assessments of the economic, financial, social and ecologic effects of the project.