- Published: 10.11.2006.
EUR 37.5 – Million Loan Taken for Croatian Railways' Modernization
The director-general of the German development bank KfW Bankgruppe, Christian Murach, and Croatian Finance Minister Ivan Šuker signed on Friday a loan agreement on 37.5 million euros which will be invested in the reconstruction and streamlining of Croatian Railways (HŽ).
This is the third installment of the loan and the amount will be used to renovate railway lines within the X, Vb and Vb1 European corridors.
Of this amount, 30 million will be used to purchase equipment and various material according to a commercial agreement which the HŽ concluded with MAN Ferrostaal company. The rest is to cover the costs of the works.