The railways of the Republic of Moldova will be modernized. EBRD will provide a loan worth 23 million euros
The Republic of Moldova will receive financial support from the European Bank for Reconstruction and Development (EBRD) to modernize its railway infrastructure. Parliament approved, in today's plenary session, the ratification, in the second reading, of a loan agreement in this regard.
Thus, the EBRD will offer the Republic of Moldova a loan worth 23 million euros, granted in two installments, over a period of 15 years.
Our country will also benefit from a grant of 20 million euros, offered by the European Commission. The money will be used for the repair works of the railway corridor Vălcineț - Ocnița - Bălți - Ungheni - Chişinău - Căinari.
According to the authorities, the renovation of that railway corridor will result in attracting volumes of goods and increasing the number of passengers. This is because, after the completion of the repair work, the speed of the trains will be increased, certain restrictions will be removed and the rotation time of the trains will be reduced.
The ratification of the Loan Agreement between the Republic of Moldova and the EBRD was signed in Chisinau on June 27, 2023.