Whilst the war and the sanctions imposed by the EU on Russia have severed these traditional trade links, Moldova’s strategic position is of great importance to ensure transportation and continued trade flows from Ukraine to Romania, to the Danube river via Moldova’s Giurgiulesti port, and to other EU countries, said the portal profit.bg.
Moldova modernizes its roads with money from the European Bank for Reconstruction and Development (EBRD). The financial institution is lending €100 million to Moldova to finance the rehabilitation of roads near its border with Ukraine. This amount supplements the existing loan of €150 million provided in 2013 for modernizing roads.
The quoted source said that Moldova is a gateway between the European Union (EU) to its west and the Commonwealth of Independent States (CIS) to its east. The Pan European Corridor IX, linking Moscow, Kyiv and Bucharest, runs east-west through Moldova, passing through its capital, Chisinau, and also connecting to the southern ports of the Black Sea and Istanbul, which provide access eastward to the Caucasus and Central Asia.
The €100 million will support authorities’ efforts to ensure the key road arteries contribute to economic growth, regional integration and trade. The EBRD is a leading institutional investor in Moldova and, to date, has invested more than €1.8 billion in the country through 158 projects, with sustainable infrastructure representing 57% of the portfolio, IPN reports.
