European Investment Bank (EIB) will provide financial assistance to the Republic of Moldova, occupying the country 150 million euros. The money republic uses to finance the program provides for repair of roads, as well as for the development of viticulture and winemaking sector.
The loan agreement by the European Investment Bank, Moldova signed the Regional Director for Eastern Europe, EIB Sinodino Constantine and Prime Minister Filat. Moreover, the latter pointed out that the whole of Moldova plans to repair the 93.6 km of roads. Work on the implementation of this program should begin next year and be completed in 2014.Also, project financing and the money will help the Bank. It will provide Moldova with 75 million euros.The second part of the money allocated for viticulture and wine sector, in particular for the repair and equipping of laboratories that test the quality of wine, the establishment of centers for training, as well as the purchase of production equipment and the provision of a lease of winemaking, and finally on-lending by commercial banks companies viticulture and wine sector, as well as many other important tasks for this sector.It is important to note that the EIB has provided Moldova with road repairs for a period of 18 years (suspended for 5 years) under 3% per annum. But the second loan, allocated by this bank under a wine sector is granted for a term of 12 years (suspended for 4 years) by the same percentage.
