OREANDA-NEWS. March 12, 2012. The government of Moldova approved the opening of the negotiations on the loan agreement at its sitting. The cabinet formed the group of negotiators headed by Veaceslav Negruta, minister of finance.

According to the prearrangement the loan will be allotted Moldova by the government of China via the Export-Import Bank of China for 20 years including 5-year grace period at 2% per year. The main condition for the loan to be allotted is that at least 50% of the project procurements must be purchased from China.

The project will be implemented by Sinohydro Corporation Limited, Chinese company. Within the project two segments of roads will be modernized: the 39 km long segment Chisinau-Hincesti-Cimislia-Basarabeasca and 9 km long segment Chisinau –Dubosari. The roads will be reconstructed and widened; the upper layer will be under poured; a new 42 meter long bridge will be constructed and 28 bridges will be repaired.

The project will be fully implemented from the Chinese loan within 2,5 years. The ministry of transport and road infrastructure is in charge for the implementation from the Moldova’s side.