Romania's railway operator borrows EUR 2 mln

Romania's railway operator CFR Calatori will borrow RON 9 million (EUR 2 million) for 12 months from the Railway Commercial Bank (Banca Comercială Feroviara). The lending contract was awarded on April 2, through a negotiation where three bidders took part, reports local Agerpres. Last week, CFR Calatori and the railway union federations signed a new collective work agreement valid until September 30. The new contract doesn’t provide mass layoffs or salary cuts, and offers employees benefits such as 10 food coupons per month. editor@romania-insider.com