Top European bank to provide Moldova with 52.5 million euros to modernise railway infrastructure

Chisinau, 23 November /MOLDPRES/ - The government has approved and ruled to submit to parliament a draft law on the ratification of a contract on financing between Moldova and the European Investment Bank (EIB) on construction and restoration of the railway infrastructure and acquisition of rolling stock. The contract was signed in last September and provides for the earmarking of financing worth 52.5 million euros in all.   

The Transports and Roads Infrastructure Ministry said that 11 principal line diesel locomotives would be purchased with the European money. The locomotives could be used to carry both passengers and goods. EIB will also finance the rehabilitation of the railway infrastructure of Moldova. Under the document, the restoration works will be carried out based on a feasibility study and are to be focused on the main corridors of Moldova: Bender – Chisinau – Ungheni – Balti – Ocnita and Bender – Basarabeasca – Etulia – Giurgiulesti.  

The project’s goal is to create an efficient railway transport system, which would support the citizens’ needs for mobility and would facilitate the trade on the domestic market and foreign markets, in conditions of the enhancement of the role of Moldova’s Railway in the international transit of goods.

The loan is provided for a 25-year term, with a five-year grace period.

(Reporter V. Bercu, editor L. Alcaza)