The Republic of Moldova signed an agreement with the European Investment Bank (EIB) on Tuesday to secure funding for the Iasi-Ungheni-Chisinau-Odesa highway, marking the first step towards the construction of what is set to become a vital corridor for Republic of Moldova’s connection to the EU, according to Euractiv.
The agreement signed on Tuesday secures funding for the pre-feasibility and feasibility studies essential for the highway construction project.
“The Ungheni-Chisinau-Odesa highway will link the regional economic and industrial hubs of the three countries, will enhance trade, economic and social development, bringing Moldova closer to the EU on an infrastructure level”, said Republic of Moldova’s Infrastructure and Regional Development Minister Andrei Spînu after the signing of the deal, TV8 reported.
As for the pre-feasibility study, he said it should be completed by 2024, with the feasibility study expected to be completed by the end of 2025.
He also spoke of the delay in initiating these studies, expressing the urgency for authorities to reclaim lost time.
He stressed the need “to swiftly progress through subsequent stages, including design, resource identification, bidding, and project initiation”.