Financing contract for rehabilitation of North-South railway corridor signed

12:12 | 18.12.2023 Category: Economic

Chisinau, 18 Dec. /MOLDPRES/- Moldova will receive a loan of 41.205 million euros from the European Investment Bank (EIB) and a grant of 12 million euros from the European Union. The financial resources will be directed to the rehabilitation of the railway corridor Vălcineț-Ocnița-Bălți-Ungheni-Chișinău-Căinari. The financing contract was signed by Minister of Finance Petru Rotaru and Director for Enlargement and Neighborhood Directorate Lionel Rapaille.

As part of the project, rehabilitation works will be carried out on a section of about 128 km, out of the total length of 370 km.

The railway segment connects the industrial areas of the north and the center of the Republic of Moldova, between the free economic zones of Mărculești, Bălți, Ungheni and Chișinău, as well as facilitates the export, import and transit of goods. The corridor provides interconnectivity between western Ukraine and key ports along the Danube and Prut rivers, providing access to international waters.

According to the Ministry of Finance, the implementation of the project will bring several benefits, such as reducing the duration of railway journeys, stimulating international trade, reducing the burden on the road infrastructure and reducing carbon emissions.

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