The Moldovan capital, Chisinau, at one end of the rehabilitation scheme known as Project V. Photo: Adobe Stock

The sum has been earmarked for Project V, comprising the rehabilitation of two major road segments within the country.

The EBRD investment constitutes half of the total funding required for Project V, with remainder of the financing to be supplied by the European Investment Bank, under a contract signed in March 2022.

The initial focus of rehabilitation efforts will be on a 7km span of the Chisinau belt road, which will be expanded to accommodate four lanes.

Attention will then be directed towards modernising the 85km road of access, linking the Romanian border at Leuseni to Chisinau, Dubasari, and extending to the Ukrainian border.

The Moldovan government says benefits of Project V include improved connectivity, enhanced transportation efficiency, and bolstered economic development prospects for the country.