The European Investment Bank (EIB) is providing two loans in Moldova: EUR 75 million to finance the increase of the quality (not the capacity) of the Moldovan wine industry and EUR 75 million to support the rehabilitation and upgrade of priority roads in Moldova

Eva Srejber, EIB Vice-President responsible for financing operations in the Eastern Neighbour countries including Moldova, who signed the loan contract with Mr. Vladimir Filat, commented:

“EIB funds will help to increase the competitiveness of Moldova in several ways: through improving the performance and export possibilities of the key sector of the Moldova’s economy, the wine industry, and the rehabilitation, capacity and safety increase of the key roads in the country.”

The first loan of will address the structural weaknesses of the Moldovan wine industry, from vineyard to final packaging and dispatch of wine. This loan will finance projects of small and medium sized enterprises that are active in this sector, including local growers, winemakers and associated industries such as bottle production.

The EIB funds will be exclusively available for investments related to the production of bottled quality wines of "Protected Designation of Origin" or “Protected Geographical Indication and will not to be used for any expansion of the Moldova’s wine growing area. This project will be implemented between the beginning of 2011 and the end of 2014.

The other loan is focused on the rehabilitation and upgrade of road sections between Chisinau – Orhei – Sarateni – Balti, the Chisinau - Calarasi – Ungheni – Sculeni and the Comrat - Ciumai. These road sections represent the Moldova’s Government’s priorities for the road sector.

This project is co-financed with a loan from the European Bank for Reconstruction and Development and grants from the European Commission through the Neighbourhood Investment Facility and it will be implemented from 2011 to 2013.