Global Gateway Forum: EU announces €12 million to upgrade railways in Moldova
October 26, 2023

Global Gateway Forum: EU announces €12 million to upgrade railways in Moldova

EU Commissioner for Neighbourhood and Enlargement Negotiations Olivér Várhelyi and European Investment Bank (EIB) President Werner Hoyer have formalised a financial package by which the European Commission will provide an investment grant of €12 million in the EIB Global project to rehabilitate and modernise two key sections of railway lines in the Republic of Moldova. The announcement was made at the Global Gateway Forum in Brussels on 25 October.

Supported by a forthcoming loan of €42 million from EIB Global, the upgraded railway infrastructure will not only enhance internal connectivity in the Republic of Moldova, but also offer a crucial export route for Ukraine, further strengthening the Solidarity Lanes initiative and fostering regional stability and economic resilience.

Central to this project will be the rehabilitation of the Republic of Moldova’s North-South railway corridor, a critical link from Western Ukraine to key Danube and Prut River ports with access to international waters. The improved railway connection between the Republic of Moldova and Ukraine aims to boost trade and benefit both the Republic of Moldova’s economy and Ukrainian exports, particularly in the context of the EU-Ukraine Solidarity Lanes initiative.

The initiative, to be implemented by Moldovan Railways, focuses on the rehabilitation of railway infrastructure on the Republic of Moldova’s Valcinet – Ungheni – Chisinau – Cainari corridor. This project is part of an overarching reform, targeting improvement of the existing rail infrastructure and in longer term the harmonisation of the Republic of Moldova’s railway network with EU standards and practices.

“I am pleased to see our Solidarity Lanes initiative delivering in Moldova,” said Commissioner Várhelyi. “As Moldova becomes an integral part of the circulation of goods, people, and services, upgrading the country’s transport infrastructure is imperative. Therefore, I am glad that this investment will strengthen the resilience of Moldovan railway infrastructure, improve Moldova’s connectivity with Ukraine and Europe, and benefit the Moldovan economy.”

Observing the signing of the investment grant at the Global Gateway Forum, Prime Minister of the Republic of Moldova Dorin Recean expressed his gratitude to the European Commission and the EIB: “The rehabilitation of the North – South rail corridor in the country, which is a project of particular importance in the context of the Solidarity Lanes, will bring long-term economic benefits to the whole region in these difficult times. The project represents a well-integrated part of our endeavour to fully integrate the Republic of Moldova into the European rail network.”

Since establishing its presence in the Republic of Moldova in 2007, the EIB has channelled over €1.19 billion into 33 projects, backing EU policy objectives across multiple sectors, such as transport, energy, SMEs, agriculture, and municipal infrastructure. 

The Global Gateway Forum, held in Brussels on 25-26 October, brings together for the first time an assembly of government representatives from the European Union and across the globe, alongside key stakeholders from the private sector, civil society, thought leaders, financial institutions, and international organisations to promote global investment in transformative infrastructure – hard and soft – to deliver on Sustainable Development Goals.

Global Gateway is the EU’s positive offer to reduce the worldwide investment gap and boost smart, clean and secure connections in digital, energy and transport sectors, and to strengthen health, education and research systems. The Global Gateway strategy embodies a Team Europe approach that brings together the European Union, EU Member States, and European development finance institutions. Together, it aims to mobilise up to €300 billion in public and private investments from 2021 to 2027.

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