Translated version of this PSD: Romanian
formalising CFM’s restructuring plan to improve the financial performance and sustainability of the railway;
the separation of the freight, passenger, and infrastructure businesses, and improving cost recovery; and
- reduction of energy consumption/costs following a dedicated energy efficiency audit of CFM. CFM is one of the largest energy consumers in Moldova so energy efficiency measures will have a considerable demonstration effect among the main energy users in the country.
The loan will be made to the Government of Moldova with CFM as the end beneficiary.
Sovereign loan of up to EUR 52.5 million, tranched.
Categorised B. Environmental and social due diligence comprised a corporate environmental, health and safety (EHS) audit of CFM and an audit of CFM’s Human Resources (HR) capacity, systems and current retrenchment planning. As part of the restructuring programme, the Bank is planning to provide technical cooperation support for the development of a corporate EHS system based on ISO 14001 and OHSAS 18001 standards. The Bank will also provide technical cooperation support for the development of a retrenchment plan. The introduction of new locomotives is expected to result in improved fuel efficiency, reduced pollution and better safety compared with the existing fleet. The infrastructure rehabilitation is expected to involve primarily the replacement of track and ballast within the existing corridor. The associated environmental and social impacts can be addressed through appropriate contractor management and stakeholder engagement. An Environmental and Social Action Plan will be agreed with CFM for each investment component in line with EBRD requirements.
- Restructuring Support - EUR 650,000 (EBRD Shareholder Special Fund);
- Assistance in preparation and implementation of tender - EUR 250,000 (Central European Initiative);
- Capacity Building on Energy Efficiency Management - EUR 220,000 (the Czech Official Development Assistance Fund);
- Environmental, Health and Safety Management Support and Capacity Building - EUR 73,000 (Central European Initiative);
- Retrenchment Planning - EUR 65,000 (EBRD Shareholder Special Fund).
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