WB, EIB, BERD to co-finance refurbishment of European roadways in Moldova

The European Investment Bank (EIB), the World Bank (WB) and the European Bank for Reconstruction and Development (EBRD) will jointly finance a project regarding the restoration and modernisation of Moldova’s roadways part of the IX Pan-European corridor: the North-South connection (Criva-Chisinau-Comrat) with East-West (Chisinau to the Romanian border). This project aims to repair 500 km of the mentioned roadways, and the financing will portioned out as follows: USD 30 million from EIB, USD 30 million from EBRD, and USD 15 million per year from WB. During the November and December 2006 meetings held in Moldova, IEB officials identified more possible projects which may be financed starting in 2007. Prior attention may be given to the construction of power lines (LEA 400 KV Suceava-Balti, and respectively LEA 330 KV Balti-Novodnestrovsk); development and modernisation of Chisinau airport’s infrastructure; restoration or building of a new wastewater disposal plant in Chisinau, reconstruction of Revaca-Cainari railway; electrification of railway and building of a European rail gauge. Also, the EIB loans were requested for the telecommunication sector. In the corporative operational Plan for 2006-2008, approved by the Board of EIB Directors on 13 December 2005, it is mentioned that a loan Mandate for Russia, Ukraine, Belarus and Moldova was approved on 2004, worth EUR 500 million, for supporting the EU Neighbourhood Policy. This Mandate is available till January 2007 (possibly till July 2007). The second EIB Mandate for 2007-2013 stipulates the opportunity of gaining loans worth EUR 3.7 billion for Russia, Ukraine, Belarus, Moldova, Belarus, Georgia, Armenia and Azerbaijan.