EBRD mulls lending EUR 174mn to support reforms at Romanian railway company CFR.

By bne IntelliNews September 4, 2012
The EBRD said it is considering a EUR 174mn loan to Romanias railway infrastructure operator CFR to fund sector reforms that aim to improve the companys financial sustainability and support the countrys infrastructure modernisation. The loan would be part of a EUR 1.2bn equivalent government balance sheet restructuring programme for the company, the EBRD said in a statement. Its loan would be guaranteed by the government and would be extended in two tranches linked to specific reform measures. The reforms drafted under CFRs Restructuring Action Plan are aimed at enhancing the companys operational and financial performance as well as improving the transparency and adequacy of the funding mechanisms in place for the railway infrastructure.

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