RTEC looking for money to pay interest to EBRD

The Chisinau Electric Transport Company (RTEC) is making effort to identify financial resources to pay the next interest on the loan provided by the European Bank for Reconstruction and Development (EBRD). The money must be transferred by September 23, but the company has only half of the necessary sum.

Contacted by IPN, RTEC director Gheorghe Morgoci said the annual interest that is about 16 million lei, depending on the exchange rate, is paid in two installments - by March 23 and by September 23. The company managed to collect only 4 million lei for the second installment.

The EBRD loan released in 2010 is repayable in 10 years.

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