The municipality of Chisinau began to rehabilitate and modernize the infrastructure of three main streets in the central part of the capital city, namely Stefan cel Mare si Sfant Blvd, Constantin Negruzzi Blvd, and Vasile Alecsandri St, with a  total length of 6,700 meters, IPN reports.

According to a press release of the Chisinau City Hall, works are now performed on the section of Vasile Alecsandri St between the streets Albisoara and Mihail Kogalniceanu.

The repair works are executed with a €10.3 million load provided by the EBRD. The loan is repayable in ten years, with a grace period of two years, at an interest rate of 6%.  Another €10.3 million was borrowed from the EIB for a period of 15 years, with a grace period of four years, at an interest rate of 6%. The European Energy Efficiency Fund also provided a loan of 1.4 million, repayable in ten years, at an interest rate of 6%. The municipal authorities will contribute €9 million.

At the second stage of the project, there will be rehabilitated the streets 31 August 1989, Alexandru cel Bun, and Tighina.