The Government has formally started talks with the Chinese Bank of Communication Corporation Limited on an lending agreement to modernize the Chisinau beltway and the national road M2,  IPN reports.

The Ministry of Economy and Infrastructure earlier signed a Memorandum of Understanding with China Railway 14 Bureau Group Co. LTD, whereby the latter agreed to assist Moldova in obtaining financing, for a minimum period of 15 years, under advantageous terms and following the signing of an international contract to perform the modernization works.

At the end of last month, the Government initiated negotiations with China Bank China Citic Bank Corporation Limited for a loan to rehabilitate the Criva-Balti road and the Balti-Floresti road.