The European Bank for Reconstruction and Development (EBRD) announced today that it will lend €23 million to Moldovan Railways to support the rehabilitation of two key sections of railway lines on the country’s North-South Rail Corridor. This corridor is part of the Solidarity Lanes initiative launched by the European Union to improve transport to and from Ukraine.
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,” says a press release by EBRD.
The project has also attracted an investment grant of up to €20 million from the European Union via its Foreign Policy Needs instrument.
The rehabilitation of railway infrastructure will first start on the Valcinet-Bălți-Ungheni rail section, and then, in a second phase of works, will continue on the Chisinau-Cainari section of the corridor.
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