Moldova will receive about 43 million euros from the EBRD and the EU for the modernization of railway infrastructure.
The parliament press service reported this, noting that this will be provided for by a corresponding agreement with the European Bank for Reconstruction and Development, the beginning of negotiations on which was approved by the Parliamentary Commission on Foreign Policy and European integration. In particular, the EBRD will provide Moldova with a 23 million euros loan for the modernization of the railway infrastructure. Also Moldova will get a grant of almost 20 million euros from the European Commission. The money will be used to restore the railway corridor Valcinet-Ocnita-Balti-Ungheni-Chisinau. As a result, the volume of cargo transported by rail will increase, as weight restrictions on this section will be lifted and the speed of traffic will increase. It should be noted that in 2014 a loan agreement was also signed with the EBRD, which provided 52.5 million euros for the purchase of locomotives and the restructuring of another section of the Moldovan railroad. Earlier InfoMarket agency informed about the intention of the EBRD to allocate 23 million euros within the framework of the "Moldovan Railways Crisis Response" project with the total cost of 71 million euros for the restoration of infrastructure of 2 sections of the Moldovan Railways. For the implementation of this project the European Union will provide an investment grant of up to 20 million euros. In addition, it will be co-financed at up to 28 million euros from the Railways of Moldova (CFM) Funds / state budget. As noted in the EBRD materials, the "Moldovan Railways Crisis Response" project will support Moldova's economic development, increase its logistical and transit potential and improve operational efficiency by improving regional infrastructure through restoration of sections of the North-South railway corridor. The project will facilitate the transportation of goods through alternative routes from Ukraine to the EU. By improving railway infrastructure, the project will increase throughput capacity and remove speed limitations on the existing railway infrastructure. The project aims to ensure food security and improve access for Ukrainian goods to the largest operating port on the Black Sea, Constanta, as well as to ports in Romania, Moldova and Ukraine - Galati, Reni, Izmail and Giurgiulesti, whose combined operating capacities are able to "absorb" a significant portion of Ukraine's export needs. // 07.06.2023 – InfoMarket
