{"id":108699,"date":"2023-05-16T09:52:07","date_gmt":"2023-05-16T06:52:07","guid":{"rendered":"https:\/\/eu4moldova.eu\/?p=108699"},"modified":"2023-05-16T09:52:09","modified_gmt":"2023-05-16T06:52:09","slug":"ebrd-and-eu-support-moldovan-railways-rehabilitation-project","status":"publish","type":"post","link":"https:\/\/eu4moldova.eu\/en\/ebrd-and-eu-support-moldovan-railways-rehabilitation-project\/","title":{"rendered":"EBRD and EU support Moldovan Railways rehabilitation project"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">\u20ac71 million finance package for rehabilitating two railway lines will facilitate transport from Ukraine via Moldova to the European Union<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>EBRD approves \u20ac23 million loan and EU contributes \u20ac20 million investment grant to Moldovan Railways<\/strong><\/li>\n\n\n\n<li><strong>Package to finance materials for rehabilitating two railway line segments will boost economy<\/strong><\/li>\n\n\n\n<li><strong>Improvements will facilitate goods transport from Ukraine to the EU via Moldova<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The European Bank for Reconstruction and Development (EBRD) and the European Commission have approved a financial package by which the EU will provide an investment grant of \u20ac20 million in a project to rehabilitate two key sections of railway lines in Moldova. The EBRD will lend the government of Moldova \u20ac23 million, with the remaining \u20ac28 million of the costs of the \u20ac71 million project being met by Moldova Railways.<\/p>\n\n\n\n<p>Rehabilitating the lines on Moldova\u2019s North-South Rail Corridor will boost Moldova\u2019s economic development and make it easier to transport goods from Ukraine via Moldova to the European Union. Like neighbouring Ukraine, Moldova was granted EU candidate status in 2022.<\/p>\n\n\n\n<p>The project was launched at the EBRD\u2019s 2023 Annual Meeting in Samarkand by EBRD President Odile Renaud-Basso and European Commission Executive Vice-President Valdis Dombrovskis. European Union funding comes via the Rapid Response Component of its Neighbourhood, Development and International Cooperation Instrument \u2013 Global Europe (NDICI &#8211; GE).<\/p>\n\n\n\n<p>Moldovan Railways (Calea Ferata din Moldova, or CFM) will be responsible for implementing the project.<\/p>\n\n\n\n<p>Since <a href=\"https:\/\/www.ebrd.com\/what-we-do\/war-on-ukraine\">Russia invaded Ukraine<\/a> last February, uncertainty over the viability of export by sea of Ukraine\u2019s large grain output has put new emphasis on finding alternative routes to maintain global food security.<\/p>\n\n\n\n<p>The project aims to increase Moldova\u2019s logistics and transit potential and bring operational efficiency from improved regional infrastructure through the rehabilitation of railway infrastructure first on Moldova\u2019s Valcinet \u2013 Balti \u2013 Ungheni rail section and then, in a second phase of works, on the Chisinau \u2013 Cainari section of the corridor.<\/p>\n\n\n\n<p>The project will also increase food security by making it easier for Ukrainian goods to reach the largest operable port on the Black Sea, Constanta, as well as ports in Romania, Moldova and Ukraine, at Galati, Reni, Ismail and Giurgiulesti. These have a cumulative operating capacity that can absorb a significant part of Ukraine\u2019s export needs.<\/p>\n\n\n\n<p>Moving these goods on to the railway will also reduce Moldova\u2019s carbon emissions. Currently, the network\u2019s low capacity means that most goods moved west from Ukraine via Moldova travel by road, which is more carbon-intensive. The project is expected to increase the network\u2019s capacity and lift speed restrictions.<\/p>\n\n\n\n<p>The EBRD, Moldova\u2019s biggest institutional investor, has invested more than \u20ac2 billion in 163 projects to date.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u20ac71 million finance package for rehabilitating two railway lines will facilitate transport from Ukraine via Moldova to the European Union The European Bank for Reconstruction and Development (EBRD) and the European Commission have approved a financial package by which the EU will provide an investment grant of \u20ac20 million in a project to rehabilitate two [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":108700,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5,1],"tags":[],"topics":[],"class_list":["post-108699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-uncategorized"],"acf":{"event_start_date":null,"event_end_date":null},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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