EU announces €12 million for railway lines in Moldova

Chisinau, 26 October /MOLDPRES/- At the Global Gateway Forum, EU Commissionerfor Neighbourhood and Enlargement Negotiations Olivér Várhelyi and European Investment Bank’s President Werner Hoyer formalised a financial package by which the European Commission will provide an investment grant of €12 million in the EIB Global’s project to rehabilitate and modernise two key sections of railway lines in the Republic of Moldova. 

Central to this project will be rehabilitation of the Republic of Moldova’s North-South railway corridor, a critical link from Western Ukraine to key Danube and Prut River ports with access to international waters. The improved existing railway connection between the Republic of Moldova and Ukraine aims to boost trade and benefit both the Republic of Moldova’s economy and Ukrainian exports, particularly in the context of the EU-Ukraine Solidarity Lanes initiative.

The initiative, to be implemented by Moldovan Railways (Calea Ferata din Moldova, or CFM), focuses on the rehabilitation of railway infrastructure on the Republic of Moldova’s Valcinet – Ungheni – Chisinau - Cainari corridor.

Supported by a forthcoming loan of €42 million from EIB Global, the upgraded railway infrastructure will not only enhance internal connectivity in the Republic of Moldova, but also offer a crucial export route for Ukraine, further strengthening the Solidarity Lanes initiative and fostering regional stability and economic resilience.

Beyond immediate infrastructural improvements of the Republic of Moldova’s key railway infrastructure, the project supports Moldova’s efforts to act in the spirit of solidarity with its neighbors and improve the crucial route of Solidarity Lanes. It  also demonstrates the commitment of the EU and its bank, EIB, to supporting neighbouring countries in times of need.