The Republic of Moldova will negotiate with the European Bank for Reconstruction and Development (EBRD) a loan agreement worth approximately €344 million aimed at rehabilitating strategically important roads. The Parliamentary Committee on Foreign Policy approved the advisory opinion for negotiating and signing the loan agreement, TRIBUNA reports.

The agreement, developed by the Ministry of Infrastructure and Regional Development, concerns the implementation of the 6th Road Rehabilitation Project in the Republic of Moldova. Under the project, the R7 road (R14 – Drochia – Costești – Romanian border) and the M3 road (Chișinău – Comrat – Giurgiulești – Romanian border) will be rehabilitated and expanded.

The project is part of Moldova’s European integration efforts, as these roads are included in the core TEN-T transport network and are strategically important for regional connectivity and the country’s integration into the European transport system.

In addition to the EBRD loan financing, the project will benefit from a grant of up to €11.4 million from the EU Neighbourhood Investment Platform, a grant of approximately €7.7 million through the Connecting Europe Facility, and a government contribution of up to €34.2 million, financed through the EU Growth Plan for the Republic of Moldova.

After the agreement is signed, it will be submitted to Parliament for ratification. The project is expected to be completed within eight years from the date of signing the agreement.