November 21 (SeeNews) - Russia will lend Moldova $500 million (452 million euro) to finance infrastructure projects, Moldova's president Igor Dodon said.
The governments of Moldova and Russia reached an agreement on the loan during a visit paid by prime minister Ion Chicu to Moscow immediately after he took office last week, Dodon said during a talk-show aired by the public television and streamed online on Wednesday evening.
"We will build roads, we will make huge investments. The Republic of Moldova has shortages in this area and starting February-March, our country will be a real road construction site. The conditions for accessing these funds will be discussed with the finance ministry," Dodon said.
"There will be public tenders in December. At least 10 sections of national roads will be rebuilt, including a bypass road to Chisinau municipality, thousands of jobs will be created, and some of the works will bring us closer to impressive economic growth."
The first tranche of the Russian loan, worth $300 million, will be disbursed soon so that works on several infrastructure projects can start early in the spring, Dodon added.
Earlier this month, Moldova's parliament gave its backing to a coalition government formed by the Socialist Party (PSRM) and Democratic Party (PDM) and led by Ion Chicu in a vote of confidence.