Financing and Spending Review Moldova Roads Sector: Financing and Spending Review June2026 FinalReport Document of the World Bank ACKNOWLEDGEMENTS This reportwas produced by aWorld Bank team led by Elena Lungu(Senior Transport Specialist), Sanja-Madzarevic-Sujster(Senior Economist),and Melanie Simone Trost Zagatti(Senior Economist). The teamwas composedof SimonDavid Ellis (Consultant, Lead Transport Specialist),EduardoEspitia(TransportSpecialist),Mesfin Wodajo Jijo (Senior Transport Specialist), Alexei Ionascu (Consultant),andDiegoUbiernaFonfria(Consultant). Theauthors gratefully acknowledge the feedback provided byWorld BankGrouppeer reviewersAlbertPijuan Sala(Senior Economist), Mediha Agar(SeniorPublic SectorSpecialist), PratapTvgssshrk(SeniorTransport Specialist),andAiga Stokenberga (Senior Transport Economist).The team would also like torecognize the support for stakeholder engagement provided byMarcel Chistruga (Economist). The team wishes to thankRobert J.Saum (Division Director, Eastern Europe, World Bank), UlrichSchmitt(MoldovaCountry Manager),Shomik Raj Mehndiratta (Practice Manager, Transport for Europe and CentralAsia),EmiliaSkrok (Practice Manager,Fiscal PolicyandGrowth),Sevara Melibaeva (Lead TransportSpecialist) for theirguidance andsupport.The authorsare also grateful toIuliana Stratan, Mirlinda GorcajLlalloshi, and Ala Muntean for their administrative support. The team would like to extend special thanks to Moldova’s Ministry of Finance of Moldova and Ministryof Infrastructure and Regional Developmentfor requesting this work and to the National RoadsAdministrationteamfor coordinating with stakeholders to facilitate data collection. The teamalsosincerely appreciates the insights and contributions of various stakeholders in Moldova,which greatlyenriched the assessment. Table of Contents Executive Summary...........................................................................................................................viChapter 1. Macro-Fiscal Context.........................................................................................................1Chapter 2. Overview of the Roads Sector............................................................................................6Road network and condition...................................................................................................................6Vehicle fleet and traffic............................................................................................................................9Road safety.............................................................................................................................................11Climate Vulnerability.............................................................................................................................12Chapter 3. Institutional Analysis.......................................................................................................14Institutional responsibilities in the roads sector..................................................................................14NRA corporate governance....................................................................................................................16Reform of the Road Maintenance Companies......................................................................................17Governance of the Road Fund...............................................................................................................18Institutional issues at the sub-national level........................................................................................18Chapter 4. Expenditure Analysis.......................................................................................................20Benchmarking Moldova’s road sector performance............................................................................20Analysis of NRA expenditures...............................................................................................................23Analysis of local government level spending........................................................................................28Spending and execution for capital road works....................................................................................30Expenditure efficiency and value for money........................................................................................31Determining road sector priorities........................................................................................................38Chapter 4. Funding the Road Sector..................................................................................................40Financing the Roads Sector....................................................................................................................40Determining how much funding the road sector needs....................................................................