EIB Loans EUR 10.3 mn for Modernization of Streets of Chisinau
OREANDA-NEWS. September 25, 2012. This is stipulate by the loan agreement signed by Mayor of Chisinau Dorin Chirtoaca and Vice-president of the European Investment Bank Wilhelm Molterer.
According to them, this is the second project to be realized by EIB in Chisinau after the bank’s co-financing the purchase of 102 new trolleybuses from Belarusian plant Belcommunmash. Dorin Chirtoaca nots the project on modernization main streets of Chisinau, valued at 22 mln. euros, I expected to become the greatest infrastructure project in the history of the Moldovan capital. The project is to be co-financed by EBRD, which is going to lend Chisinau 11.7 mln. euros for this purpose.
The package of EBRD includes a loan of 10.3 mln. euros from the Banks’ funds and a loan of 1.4 mln. euros from the Green Energy Fund, EBRD administrates. The loan for reconstuction of 6 main streets of Chisinau is extended for 10 years at 5% per year with the 2 -year long grace period. Dorin Chirtoaca stated the loans provided by EIB and EBRD would be used to develop infrastructure of 6 streets, of Chisinau.
In particular, within the next 2 years the complete overhaul will be made in Stefan the Great Boulevard, Tighina St., Vasile Alexandri St., the 31st of August St. and Alexandru cel Bun St. In line with the project, road bed in this streets will be overhauled and renewed, new pedestrian areas, underground passages and new parking lots will be built, they system of illumination will be reconstructed and bulbs will be replaced wit energy-saving lamps.