Prime Minister Vlad Filat and EBRD Director for Transport Sue Barret today have signed a lending agreement to the value of €75 million for rehabilitating the roads in Moldova, Info-Prim Neo reports. Vlad Filat said the loan of the European Bank for Reconstruction and Development will be disbursed in three installments. The first installment of €27 million will be used to reconstruct two portions of the M3 Chisinau-Giurgiulesti road, between Comrat and Ciumai towns, with a total length of about 55 kilometers. The Premier said the first installment will be provided next year, while the reconstruction of the roads will start when the weather permits. “The EBRD loan will go to finance the main projects of the road sector investment plan that was worked out with the support of the World Bank. This will contribute to economic growth in Moldova and its regional integration,” said Vlad Filat. The next installments of €25 million and €23 million will be used as additional investments in Moldova’s road infrastructure. The project will be co-financed by the European Investment Bank. Moldova has about 16,800 kilometers of road. Less than 10% of the country’s roads are in a satisfactory condition. Sue Barret said it is one of the largest investments of the EBRD in Moldova. “The reconstruction of roads is a high priority for Moldova and the EBRD is pleased to be able to support it in these efforts. The EBRD’s investment will contribute to a better quality of the transport network in Moldova,” she said. The loan is repayable in 15 years, with a grace period of three years, without interest. The EBRD will also provide grants of €1.5 million that will be used to support the road maintenance reform and strengthen the institutional capacities of the State Road Administration that is responsible for the implementation of the project. So far, the EBRD has invested over €400 million in different sectors of Moldova’s economy, mobilizing additional investments of over €320 million.