GOVERNMENT HOPES TO REHABILITATE TWO ROADS IN MOLDOVA ON CHINESE MONEY

The Moldovan Government hopes that the roads R13-Balti-Floresti and M5-Balti-Criva will be rehabilitated with the support of the Bank of China in the form of credit of 190 million euros.

According to the Ministry of Economy and Infrastructure, this was said at the Wednesday’s meeting of Moldovan Minister of Economy and Infrastructure Chiril Gaburici and representative of the Bank of China financial department Yang Shi Xin in Chisinau.

“These roads are important for citizens and we hope to implement the project together”, Gaburici said, presenting to Chinese delegation the investment opportunities in Moldova, as well as the measures the authorities took for creating a favorable business environment in the country.

Yang Shi Xin said that the Bank of China value the opportunities, provided for foreign investors in Moldova.

“The creation of modern infrastructure is a difficult process, but together with Moldova’s foreign partners, we can develop this sector”, he said.

As Infotag has already reported, in late January the Government also approved the beginning of negotiations with the China Citic Bank Corporation Limited on an agreement about financing a project on rehabilitating these two road sections. Back then, it was about the preliminary sum of the credit of 228 million euros.

According to Gaburici, for the implementation of these projects, the ministry signed a memorandum of understanding with the consortium of companies China Hyway Group Limited and Tianjin Oubaiwei Corp., which undertook to made all efforts to provide assistance in getting financing for a long period (at least 15 years) at profitable conditions.