The Cabinet approved the initiation of negotiations on the signing of Amendment No. 1 to the €75 million financing contract between the Republic of Moldova and the European Investment Bank (EIB) for supporting the road rehabilitation project, IPN reports.

By this amendment, the period of repaying the amounts stipulated in the financing contract is extended until December 31, 2018. Thus, the EIB could transfer the not yet disbursed sums of the raised loan so that the works to rehabilitate national roads are completed.

The Republic of Moldova will pay €68,700 commitment commission for the extended repayment period.