EIB accepts Romania's application for EUR 470 mln grants for new trains under Modernisation Fund

Romania's Railway Reform Authority announced that it received confirmation from the European Investment Bank (EIB) saying it "accepted the application" for EUR 470 million in funding aimed at the purchase of 62 short-distance electric trains under the European Modernization Fund.

Under the third stage of the Modernisation Fund procedures, the EIB confirms if the investments submitted by the Member States for grant funding are a priority. The European Commission later takes a disbursement decision once an investment is confirmed as a priority by the EIB or recommended for financing by the Investment Committee as a non-priority.

Following this decision, ARF says it will be able to prepare the investment and public procurement documentation to procure approximately 60 more trains, which will support sustainable mobility in Romania.

"It is expected that in the first quarter of 2024, this new procurement project will be published in the electronic public procurement system SICAP", announced ARF, quoted by Agerpres.

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