Moldova thanks Romania for $171 million loan, says it will be spent on modernizing the country

October 13, 2015 7:17 PM

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BUCHAREST, Romania – Moldova's prime minister has thanked Romania for a 150 million euro ($171 million), five-year loan which he said will be spent on modernizing the former Soviet republic, which wants to join the European Union.

Premier Valeriu Strelet said Tuesday that the loan, agreed upon last month, will bolster reforms and be spent on joint projects that "raise (Moldova's) development level closer to Romania's and Europe's."

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