The European Bank for Reconstruction and Development (EBRD) is lending €23 million to Moldovan Railways to support the rehabilitation of two key sections of railway lines on the country’s North-South Rail Corridor: the 446 km long Vălcineț-Ocnița-Bălți-Ungheni-Chisinau-Căinari. For its part, the European Union (EU) is providing a €20 million grant for the purpose as part of the EU Solidarity Lanes initiative to improve transport to and from Ukraine, IPN reports.
The project will boost Moldova’s economic development, and at the same time make it easier to transport goods more quickly and efficiently from Ukraine to the European Union via EU candidate Moldova. Shipping routes to and from Ukraine, which is a major food producer, have been compromised since Russia’s full-scale invasion last year, giving strategic importance to upgrading other routes to maintain global food security.
EBRD Head of Office in Moldova Angela Sax signed both loan and grant agreements with Minister of Infrastructure and Regional Development Liliana Dabija today.
“By signing the loan and grant agreements between the Republic of Moldova and the European Bank for Reconstruction and Development, we will stimulate the development of Moldovan Railways’ infrastructure,” stated Lilia Dabija.
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