France: The European Investment Bank has granted RFF a 300m euro loan towards the construction of the first phase of TGV-Est between Vaires-sur-Marnes and Baudrécourt.

India: Indian Railway Finance Corp is planning to raise Rs30bn to part finance the Railways’ 2001-02 Annual Plan through private placement of taxable bonds, lease financing and long term loans (p292).

Kyrgyzstan: KfW has loaned DM40m towards the construction of the Balykchi - Kara-Keche line. German consultants are to advise on implementation of the project (RG 4.01 p223).

Poland: PKP is to receive 700m zloty of short-term credit from a consortium of five banks. This will be used to meet financial obligations including overdue social security payments. PKP is to increase its bond issue from 1·7bn to 2bn zloty as a result of a World Bank loan being reduced from the planned 600m zloty to 410m zloty.

Russia: Prime Minister Mikhail Kasanov has ordered the Finance Ministry to pay back a total of 1bn roubles of bonds bought by 2500 investors in the unsuccessful RAO VSM Moscow - St Petersburg high speed line project. RAO VSM’s property will be transferred to the state.

USA: Florida East Coast Industries has agreed a credit facility with a group of banks. This will help finance Florida East Coast Railway’s planned capital investment of about $39m.

Yugoslavia: On March 22 Eurofima agreed to provide JZ with a SFr20m loan to service its financial obligations, and buy locomotive and rolling stock spares.

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