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The Ministry of Transportation, Construction and Tourism (MTCT) wants to obtain a 180 million dollar credit from the World Bank for the financing of maintenance projects for road and rail infrastructure, according to Minister Gheorghe Dobre. The credit memorandum was signed on Thursday by MTCT and International Bank for Reconstruction and Development (IBRD) representatives.
The remaining funds for the 227 million dollar project will come from the state budget. An MTCT delegation will travel to Washington, D.C. this week to negotiate the contract, which should be signed sometime next month, according to Dobre. Dobre said the funds allocated for 2006-2007 would be given to the Highway and National Roads Company (CNADR) and CFR Infrastructure. The money will be used mainly for periodical maintenance and the ongoing repairs of Romania's national roads, the managerial improvement of CNADR and maintaining the rail infrastructure. MTCT recently announced that the infrastructure modernization, restoration and development project would require approximately 10.38 billion euros. The total value of the projects financed by the state budget is 2.3 billion euros. Source: Bucharest Daily News
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