Moldova secures €300 million in Euro funding
07 December 2023
Moldova’s state news agency Moldpres says the country is set to sign a €150 million loan agreement with the European Bank for Reconstruction and Development (EBRD) for the Moldova V road rehabilitation project.
The Moldovan government officially approved the project this week, paving the way for the implementation of the significant development initiative.
The EBRD’s contribution represents 50% of the co-financing for the project, with the remaining portion secured through funding from the European Investment Bank.
The focal point of the project is the rehabilitation and modernisation of the M2 road, sector 2 of the Chisinau belt, which encircles the Moldovan capital.
Significant Ukraine connection
The plan includes a substantial expansion, converting the existing infrastructure into four traffic lanes, covering an estimated length of 7km.
At the same time, approximately 85km of the M1 road – linking the border with Romania through Leușeni, Chisinau and Dubăsari and culminating at the border with Ukraine – is set for a significant overhaul.
Moldova’s Ministry of Infrastructure and Regional Development recently emphasised the importance of the project, not only for streamlining traffic within the country, but also in bolstering connectivity between the Republic of Moldova, Ukraine and the European Union.