EU, EBRD offer 43 million euros for renovation of two railway sections
16:29 | 17.05.2023 Category: Economic
Chisinau, May 17 /MOLDPRES/- The EU will offer the Republic of Moldova 20 million euros as a grant, and the European Bank for Reconstruction and Development (EBRD) will provide a loan under favorable conditions in the amount of 23 million euros. The money will be used for the renovation of two railway sections, which will allow the transport of goods from Ukraine to the EU through Moldova.
The rehabilitation of the sections belonging to the north-south railway corridor of Moldova will stimulate the economic development of the country and will facilitate the transport of goods from Ukraine to the European Union through the Republic of Moldova.
The project will ensure the growth of the logistics and transit potential of our country and increase the operational efficiency of the regional infrastructure by rehabilitating the railway infrastructure, first of all the railway section Vălcineț - Bălți - Ungheni, and then, in the second phase of the works, the section Chișinău - Căinari .
The project will also contribute to food security, facilitating the access of Ukrainian goods to the largest Black Sea port, Constanța, as well as to the ports of Romania, Moldova and Ukraine, in Galati, Reni, Ismail and Giurgiulesti.
Currently, most goods from Ukraine are transported westward through Moldova using the road infrastructure.