China could lend US$1bn to Moldova
The Chinese authorities could allocate US$1 billion to Moldova for carrying out industrial and infrastructure-related projects. The announcement was made during a Chisinau Beijing videoconference on Thursday.
The money would be offered as part of the program of China National Overseas Engineering Corporation COVEC. For the time being, this is not possible because Moldova signed a memorandum with the IMF valid until April and cannot take out credits from China.
During the conference, the COVEC representative in Moldova Ruslan Barladeanu said that the money would be used to implement projects in the areas of infrastructure (road building, water supply, construction of wastewater cleaning systems), agriculture and processing industry.
“The initial loan was fixed at US$1 billion, but the credit line can be extended. The Chinese authorities can provide financing for all the projects proposed and justified by Moldova,” said Xiang Zhao, the representative of China National Overseas Engineering Corporation COVEC.
The loan would be offered under state guarantee for 15 years, with a grace period of 5 years and an interest rate of 3% annually.
China National Overseas Engineering Corporation COVEC is the largest building company in China and the third largest in the world. It has carried out over 1,550 large projects in more than 60 countries using the most modern technology. Several of these were included in the Guinness World Records.
REPORTER.MD
Comments