Railway infrastructure in the Republic of Moldova will be modernised with the EU support
The Railways of the Republic of Moldova will be modernized and repaired with the support of the European Union. According to a statement issued by the Parliament, the European Investment Bank (EIB) will grant our country a loan of 41.2 million euros, and the European Union will offer a grant of 12 million euros for the rehabilitation of the railway infrastructure.
The members of the Foreign Policy and European Integration Commission approved, during today's meeting, the advisory opinion for initiating negotiations and approving the signing of the Financing Contract.
Thus, 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 to increase the number of passengers.
The financing contract will be repaid within up to 30 years, and the "Moldova Railway" State Enterprise will periodically submit reports to the European Investment Bank, the Ministry of Infrastructure and Regional Development and the Ministry of Finance about the progress of the project.
