Connect with us

Moldova

Moldova receives additional funding to improve rail infrastructure and advance Solidarity Lanes

SHARE:

Published

2 years ago

on

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. You can unsubscribe at any time.

The European Investment Bank has signed a €41.2 million loan with Moldova, destined to improve internal transport connections as well as to provide long-term economic benefits to the wider region. This loan will be complemented by an EU grant of €12 million. 

Transport Commissioner Adina Vălean said: “I welcome the signature of this loan that, together with the European Commission contribution of €12 million, will improve rail infrastructure in Moldova. Some 128 kilometres of track on the North-South axis will be renovated, with great benefits for the Moldovan economy. The project will also strengthen the Solidarity Lanes, where Moldova and Romania are the main actors on the Danube Corridor, ensuring the transit of almost 70% of the products exiting Ukraine.” 

The project will help reduce road congestion and increase environmental sustainability, in accordance with the EU's Global Gateway goals.

It will also strengthen the Solidarity Lanes, the alternative transport routes for Ukraine that have become a lifeline for Ukraine's economy. In addition to transporting Ukrainian grain (more than 58 million tonnes of cereals, oilseeds and related products since May 2022), they are the main option for Ukraine to export all of its other goods, and to import what it needs, such as fuel and humanitarian assistance. Today's decision will help strengthen the Danube corridor. 

Share this article:

Share this:
Related Topics:
EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter. Please see EU Reporter’s full Terms and Conditions of publication for more information EU Reporter embraces artificial intelligence as a tool to enhance journalistic quality, efficiency, and accessibility, while maintaining strict human editorial oversight, ethical standards, and transparency in all AI-assisted content. Please see EU Reporter’s full A.I. Policy for more information.
Advertisement

Trending