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Moldovan Railways Secures EUR 23 Million Loan from EBRD for Transport Improvement

Moldovan Railways Secures EUR 23 Million Loan from EBRD for Transport Improvement
photo: dittaeva / Wikimedia Commons/Moldovan Railways Secures EUR 23 Million Loan from EBRD for Transport Improvement
28 / 06 / 2023

Moldovan railways have received a EUR 23 million loan from the European Bank for Reconstruction and Development (EBRD) as a part of the EU's Solidarity Lanes initiative aiming to improve transport links between the EU and Ukraine to address logistical challenges caused by the Russian war in Ukraine.

In addition to the EBRD funds, the project has received an investment grant from the EU of up to EUR 20 million. The main support will be directed to the rehabilitation of two important railroad sections: Valcinet – Balti – Ungheni and a section of the Chisinau – Cainari corridor, and the purchase of materials for the rehabilitation process. In the future, the initiative will benefit the efficient and rapid transportation of goods through Moldova, contributing to global food security and economic development.

The agreement was signed by EBRD President Odile Renaud-Basso, European Commission Executive Vice President Valdis Dombrovskis, and representatives of the Moldovan Railways at the EBRD Annual Meeting last month.

It is noted that, in addition to the above, the project will make a direct contribution to environmental protection, as by enabling freight transportation by rail, it reduces carbon dioxide emissions compared to road transport, which is currently the main transport force in Moldova due to the country's limited railway capacity.

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