EBRD and EU support Moldovan Railways rehabilitation project
The European Bank for Reconstruction and Development (EBRD) and the European Commission have approved a financial package by which the EU will provide an investment grant of €20 million in a project to rehabilitate two key sections of railway lines in Moldova. The EBRD will also lend the government of Moldova €23 million, with the remaining €28 million of the costs of the €71 million project being met by Moldova Railways.
The project aims to increase Moldova’s logistics and transit potential through the rehabilitation of railway infrastructure first on Moldova’s Valcinet – Bălți – Ungheni rail section and then, in a second phase of works, on the Chisinau – Cainari section of the corridor.
Moldovan Railways (Calea Ferata din Moldova, or CFM) will be responsible for implementing the project.
Rehabilitating the lines on Moldova’s North-South Rail Corridor will boost Moldova’s economic development and make it easier to transport goods from Ukraine via Moldova to the European Union, says the EBRD press release.
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