GOVERNMENT INTENDS TO TAKE HUGE CREDIT FROM CHINESE BANK FOR REPAIRING TWO ROADS

The Moldovan Government approved on Wednesday the beginning of negotiations with China Citic Bank Corporation Limited on an agreement on financing the project of rehabilitating two national roads. The projected sum of the credit is 228 million euros.

Minister of Economy and Infrastructure Chiril Gaburici said that it is about the M5 highway on the section of the Criva-Balti road and the R13 on the section Balti-Floresti-R14.

“The negotiations are a continuation of the project of supporting the program in the road sector, implemented with the contribution of international financial institutions. The goal of the project is to provide to Moldova help in rehabilitating the national road network to simplify road transportation, as well as to raise security and the capacity of the national road network”, he said.

Gaburici reminded that for implementing these projects, the ministry signed a memorandum of understanding with the consortium of companies China Hyway Group Limited and Tianjin Oubaiwei Corp., by means of which the consortium undertook to make every effort for providing assistance and getting financing for a long period of time (minimum 15 years) on favorable conditions.