The European Bank for Reconstruction and Development (EBRD) will sell the Moldovan Danube port of Giurgiuleşti to neighboring Romania, local media reported. The board of directors of the Port of Constanta approved the agreement to purchase the shares on Thursday. The deal should be completed soon, BTA reported.
Romania is seeking to strengthen its logistical role in Central and Southeast Europe, Reuters noted, adding that the country is one of Moldova's strongest allies and a supporter of its accession to the EU.
The port of Giurgiuleşti is close to Moldova's borders with Romania and Ukraine. It is located 134 kilometers from the Black Sea and is accessible by river and sea vessels.
The Port of Constanta has committed to making significant long-term investments in the further development of Giurgiuleşti. The strategic goal is to expand its capacity, improve its infrastructure and strengthen its position in the Black Sea region and the Danube basin.
Investments in infrastructure and exports of Ukrainian grain after the Russian invasion in 2022 have strengthened the Port of Constanta, which could become a logistics hub for Ukraine's reconstruction, the agency notes.
It is currently the main alternative route for Ukraine's grain exports. Although exports fell sharply last year, Constanta has facilitated the transport of over 30 million tons since 2022.