OREANDA-NEWS. April 22, 2011. Parti cularly, the European Investment Bank and the European Bank for Reconstruction and Development will provide two loans in the amount of 75 million euros each to Moldova, to co-fund the road rebuilding program worth EUR 181.2 million.

 The European Investment Bank will also release a credit for roads reconstruction for 18 years with a 5-year grace period. The interest rate will be EUROLIBOR+0.68% p.a. At the same time, the European Bank for Reconstruction and Development will provide a loan for 15 years with a 3-year grace period for the same purpose.

The European Commission with provide Moldova with a 31.2 million euros grant for implementation of the road reconstruction program.

The project stipulates reconstruction and modernization of the road infrastructure on the 150 km long key parts of Moldova’s national roads. As it was reported earlier, the credit agreement with the EIB was signed on November 23, 2010, with the EBRD – October 29, 2010.