Argentina: The World Bank is to provide US$150bn to replace 30 level crossings within the Buenos Aires city limits with road underpasses.

Czech Republic: CD secured DM200m in state-guaranteed credit from Kreditanstalt für Wiederaufbau on November 25 for modernisation of the Breclav - Petrovice u Karviné line, and a further ECU200m in December from the EIB.

Hungary: The EBRD and EIB have agreed to lend ECU220m to MAV to help fund rehabilitation and upgrading over the next five years. The EU will contribute ECU80m under its Phare programme, and MAV the same from its own resources.

Indonesia: Perumka has secured a US$140m loan from the IBRD to fund rehabilitation, upgrading, training and technical assistance

Latvia: The Bank of New York has agreed a US$6·5m credit to Latvian Railways to upgrade communications equipment.

Romania: SNCFR has applied for an EBRD loan to part-fund a US$383m restructuring and rehabilitation programme.