Moldova to borrow 41.2 million euros for railway rehabilitation

12:26 | 13.12.2023 Category: Economic

Chisinau, Dec. 13 /MOLDPRES/- The railway infrastructure in Moldova will be rehabilitated with EU support. Members of the parliamentary committee on foreign policy and European integration have approved the opinion for initiating negotiations and approving the signing of the financing contract between our country and the European Investment Bank (EIB).

The project sees a loan of 41.2 million euros, offered by the EIB and a grant of 12 million euros by the European Union. The money will be used for the repair of the railway corridor Vălcineț-Ocnița-Bălți-Ungheni-Chișinău-Căinari.

According to the authorities, the repair of the railway section will have a positive impact on the economy of the Republic of Moldova, as the necessary conditions will be created to attract volumes of goods and increase the number of passengers.

The financing contract will be repaid within up to 30 years, and the Moldova Railway state-owned enterprise will periodically submit reports to the European Investment Bank, the Ministry of Infrastructure and Regional Development and the Ministry of Finance about the project progress.

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