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The EIB will extend the period of access to credit resources for the repair of the R1 Chisinau-Ungheni-Sculeni road until November 30, 2021,

The EIB will extend the period of access to credit resources for the repair of the R1 Chisinau-Ungheni-Sculeni road until November 30, 2021,

And the deadline for the implementation of the Moldova road rehabilitation project financed by it - until the end of 2022.This is provided for by the amendment No. 3 to the Financing Agreement between Moldova and the European Investment Bank, ratified by the Moldovan parliament on Thursday, for the implementation of the Road Rehabilitation Project in Moldova, worth 75 million euros. The aforementioned agreement between Moldova and the EIB was signed on November 23, 2010, and subsequently two amendments were made to it, which were ratified by the parliament in March 2018. The current amendment was prepared by the EIB to amend the provisions of the agreement concerning the extension of the final date of availability of the funds provided and, accordingly, the margin set for repayment of the loan in installments, as well as other financial aspects related to the extension of the loan. The ratified amendment provides for the extension of the final date for the availability of funds provided under the said financing agreement until November 30, 2021, as well as the extension of the project implementation period until December 31, 2022.The amendment will simplify the availability of funds for the period of repairs and the provision of consulting services, as well as to extend the period of notification of defects in road rehabilitation. So far, Moldova has received 54.7 million euros for the implementation of the said project (72.9% of the funds provided for in the financing agreement). In December last year, it was reported that the repaired Chisinau-Ungheni-Sculeni road would be put into operation at the end of August 2020, and the project cost exceeds 23 million euros. According to the contract, the Chisinau-Ungheni-Sculeni road was supposed to be put into operation in 2016, but due to delays, construction contractors - Evrascon JSC (Azerbaijan) and OHL ZS (Czech Republic) - were fined and given a new term to put the road into operation.// 26.11.2020 — InfoMarket.

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