The Ministry of Finance, the German bank KfW and the local authorities of Cahul municipality signed an agreement to implement the grant and project “EU for Moldova: Clean Water for Cahul” to the value of €10 million, IPN reports.
According to the Ministry of Finance, the agreement represents a transfer of funds for implementing the project, provided by the European Union to Moldova in the framework of the EU’s Annual Action Program for the Republic of Moldova for 2019. The money is offered through the agency of KfW based on the contribution agreement between the EU and KfW of December 19, 2019.
The agreement is designed to co-finance the project “Water Supply and Sewerage in Cahul District” that is funded in accordance with the Financing and Project Agreement signed by KfW, the Republic of Moldova and the municipality of Cahul on August 1, 2018, based on which KfW offered Moldova €23.5 million worth of grants.
The South Regional Development Agency is the project implementation unit. The grant resources are to be disbursed by December 30, 2024.