Home New loan New loan of 23.5 million euros to Moldovan railways from the EBRD

New loan of 23.5 million euros to Moldovan railways from the EBRD

2
0

The European Bank for Reconstruction and Development (EBRD) is providing Moldova’s national rail operator Calea Ferata din Moldova with an additional € 23.5 million loan to modernize key infrastructure.

The new loan follows a joint financial package of 110 million euros from the EBRD, the European Investment Bank (EIB) and the European Union (EU), agreed in 2014 and disbursed in 2017, to modernize railway infrastructure, acquire new rolling stock and support the reform process. of the state enterprise. The Moldovan government has requested the new funding in order to continue upgrading the infrastructure.

To date, 12 new locomotives have been purchased with EU support and are currently in service. There has been a feasibility study on the rehabilitation of infrastructure and work on the Bender-Causeni-Basarabeasca-Etulia-Giurgiulesti railway section will start soon. In addition, Calea Ferata from Moldova is preparing to launch a tender for an Energy Management Information System (EMIS), for more efficient and economical energy planning and monitoring.

“The funds will be allocated to the modernization of the rail infrastructure on the Bender-Causeni-Basarabeasca-Etulia-Giurgiulesti section, which is the busiest rail segment in the country, as it ensures the transit of goods from and to Romania and Ukraine, ”said Andrei Spinu, Deputy Prime Minister, Minister of Infrastructure and Regional Development.

“We are only beginning to bring the industry back to life. With effective management of funds and with maximum responsibility and discipline, the railways will have a whole new image, ”he added.

“Modern railways mean safer and more efficient transportation for passengers and freight. Our funding will improve operational efficiency and corporate governance at Calea Ferata in Moldova while providing important benefits for trade, economy and people’s lives in Moldova, ”commented Matteo Patrone, EBRD Managing Director for Eastern Europe and the Caucasus.

The EBRD is the leading institutional investor in Moldova. To date, the Bank has invested more than 1.4 billion euros through 146 projects in various sectors of the country’s economy. It has also provided consulting services to over 1,000 small businesses.

Coursera student smiling with blue background


Source link