71m euros for infrastructure

The European Bank for Reconstruction and Development (EBRD) will lend CFR (Romanian Railway Company) 22.65 million euros to upgrade the railway system, and especially the Craiova-Caransebes-Timisoara-Arad section, located on Corridor IV, Transports Minister Gheorghe Dobre said. The loan will be granted as part of an agreement signed at the Victoria Palace (Government headquarters) by the Public Finance Ministry and the lending institution. The funds will be used to buy electrification equipment and maintenance and repair vehicles. “This is a step included in the category of measures for the rehabilitation and upgrading of the railway system in view of safer transportation,” Dobre said. The loan will be repaid in 12 years, with a four-year grace period. Also on Monday, Romania signed a series of governmental agreements with Germany, in order to get 48.5 million euros in funding. ZF