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EIB approves funding package for rail projects [free access]

June 23, 2021

The European Investment Bank (EIB) has approved EUR946 million to improve rail and maritime connections. The package includes funding for the procurement of new hydrogen- and battery-powered trains to be deployed in the Berlin and Brandenburg regions, and for reducing congestion at the Polish Baltic Sea port of Szczecin. The approved funding also covers the project to upgrade the Arad–Sighisoara line in Romania that will eventually improve passenger and freight services between Hungary and Black Sea ports.

 

Up to EUR1.2 billion will be used to strengthen the recovery of the sector from the effects of the COVID-19 pandemic. EIB’s local banking partners will provide business financing, agreed to by the EIB, to assist the companies in Italy, Spain, and Portugal that have been severely affected by the pandemic to invest in and to adapt and expand their activities.

 

(1 EUR [Euro] = 1.19 USD)