Chile: EFE has secured loans worth a total of US$400m to finance electrification, signalling and telecommunications projects under its US$1bn 2003-05 investment programme. US$72m was raised through a bond issue on the local market.

China: In May China Development Bank and China Railway Construction Corp signed an agreement for a 20bn yuan development loan and the provision of financial services in 2005-10.

France: The funding agreement signed on June 1 for the €107m Tours - Vierzon electrification scheme comprises €60m from the Centre region, €30·1m from the government, €15·8m from the European Union and €1m from RFF. Work was due to begin on the 103 km route in July 2005 for completion at the end of 2007.

European Investment Bank has agreed to lend €200m towards the construction of Line 2 of the Montpellier light rail network, now expected to cost €400m following economy measures. The French government had reduced its contribution from €103m to €5m, and further loans are to be provided by Caisse des Dép

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