CZ/SK verze

Moldovan Railways got provided with a new loan from EIB

Moldovan Railways got provided with a new loan from EIB
photo: Railways got provided with a new loan from EIB
03 / 01 / 2022

The European Investment Bank (EIB) will deliver EUR 24 million to Moldovan Railways (Calea Ferata din Moldova – CFM) to rehabilitate and modernize the 233 km of railway along the Bender – Căuşeni – Basarabeasca – Etulia – Giurgiuleşti, Moldova’s southern corridor.

“The Moldovan Railways has gone through a management crisis over the years. This cannot continue like this. The resuscitation of the sector is just beginning. This financial package, but also other sources of money allocated for this sector, we will make sure that they are managed efficiently, with full responsibility and discipline, in order to make this sector gain a new image,” Andrei Spinu, the Minister of Infrastructure and Regional Development said.

The European Bank for Reconstruction and Development (EBRD), in 2021, delivered an additional EUR 23.5 million loans to upgrade the central infrastructure, following a joint EUR 110 million funding agreed in 2014 for rail infrastructure and rolling stock acquisition. EUR 5 million is an investment grant from the EU’s Neighbourhood Investment Facility (NIF) and the remainder from loans by the EBRD and EIB. EU financing will get used for the Bender – Căuşeni – Basarabeasca – Etulia – Giurgiuleşti railway line.

To this day, Moldovan Railways purchased with EU aids twelve new ТE33А diesel locomotives that get currently used by the carrier.

This plan is part of a modernization and revitalization project that secures three main lines that require an investment of EUR 205 million. Southern corridor requires a EUR 75,7 million investment, of which EUR 62 million covers the modernization of the infrastructure and EUR 13.7 million for the signaling and power systems.