A bill to ratify the grant agreement between the Republic of Moldova and the European Bank for Reconstruction and Development within the project to restructure Moldova’s Railways was endorsed by the Cabinet on February 17. The grant will be provided from the Neighborhood Investment Fund (NIF), IPN reports.

The €5 million offered by the NIF is intended for the rehabilitation and purchase of new engines for improving the energy efficiency of Moldova’s Railways, monitoring of fuel consumption by the existing engines and promotion of other reforms at the company.

The grant is valid until the end of 2018.

The grant agreement was signed on November 10, 2015.