European Bank for Reconstruction and Development to provide 12-million-dollar loan to modernise Giurgiulesti port


The European Bank for Reconstruction and Development (EBRD) will provide a 12-million-dollar loan to build a mixed-gauge rail terminal on the territory of Giurgiulesti International Free Port, according to a press release by the EBRD.

The mixed-gauge rail terminal will allow the transportation of goods from and to the EU, which uses narrow gauge, as well as the transportation of goods to former soviet countries, which use broad gauge.

The loan will be provided to the company Danube Logistics, which is the owner and operator of Giurgiulesti International Free Port. The EBRD's funds will be used to generally improve the port infrastructure as well as to complete the railway connection of container terminals for general goods, cereals and coal. As a result, goods will no more be unloaded by cars from train wagons. Thus, port operations will become more time-and-cost efficient.

«The investment in the rehabilitation of Moldova's infrastructure is a priority for the bank. This project will help enforce a major programme backing the continuously increasing potential of the demand for fluvial and maritime transhipment services. As a Free Economic Zone, the port is already playing an important role, offering a three-modular transport infrastructure, a low-cost environment and a unique customs and fiscal regime,» the EBRD director for transport, Sue Barrett said.

Giurgiulesti International Free Port is a Free Economic Zone and a multifunctional logistics centre, which includes an oil terminal, containers and terminals for general goods as well as terminals for cereals and seed oil. According to the EBRD's press release, Giurgiulesti port is the only centre of this type in Moldova.

The EBRD is one of Moldova's largest investors, which invested over 700 million euros in almost 90 energy, transport, agriculture, industry and banking projects.

Adapted from Moldpres

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