European top banks to financially back Moldovan railway enterprise

The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) will financially support the modernization of the Moldovan Railway state-owned enterprise (CFM) by providing about 50 million euros.

The Transport and Road Infrastructure Ministry’s press service has reported that the EBRD would give 25 million euros for co-financing a project on modernising trains and locomotives. The EIB will provide 25 million euros for another project designed for the rehabilitation of the railway infrastructure. As a result, the travel conditions for passengers will improve, and the traffic speed of trains will increase.

“The CFM started a large-scale reorganisation, the aim of which is to have an up-to-date railway system in Moldova. We want to create better conditions for the transportation of goods and passengers, as well as for the attraction of railway transit flow,” Transport and Road Infrastructure Minister Vasile Botnari said at a meeting with bankers.

The CFM is to be reorganized into three trade units – passenger transport, freight transport and railway infrastructure.

Adapted from moldpres