Egypt: Minister for International Co-operation Fayza Abul-Naga has announced that the World Bank is to lend US$270m to fund railway development in 2007-08.

France: The European Investment Bank has agreed to provide an initial tranche of €60m of a €120m loan towards the cost of building the 15·4 km light rail route in Le Mans with 30 stops and 23 LRVs. Total cost of the project, due to be completed by the end of 2007, is €230m.

Hungary: Budapest municipality has agreed a €85m loan with the European Investment Bank to purchase five-car trains to replace existing rolling stock on metro Line 2.

Lithuania: EIB is to provide LG with a €43m loan to finance the purchase of 34 modern diesel locos to replace 64 locos dating from the 1970s. Ordered for Siemens in July 2005 for €123m, and due for delivery in 2007-8, they will be used on freight trains between the port of Klaipeida and Belarus, and on services to Kaliningrad.

Serbia: In May Finance Minister Mladjan Dinkic said that Serbia will receive €60m from EBRD and €80m from EIB for railway development. The terms of the agreements were due to be finalised last month.