The European Investment Bank (EIB) is to provide a €50m ($55.95m) in funding to the Republic of Moldova for the modernisation and improvement of the railway network and rolling stock in the country.

The project includes upgrades to select rail sections, restructuring of the railway sector, and purchase of new mainline diesel locomotives to replace the existing fleet, as well as related maintenance equipment.

The project has also received €5m ($5.59m) grant from the European Union and is being co-financed by the European Bank for Reconstruction and Development (EBRD).

The Asian Development Bank (ADB) has announced its approval to provide a $1.5bn loan for development of a 102km dual-gauge railway line between Dohazari and Cox’s Bazar in Bangladesh.

"The project will also receive $512m from the Bangladeshi Government and $1m in technical assistance."

The $2.01bn rail line is part of the Trans-Asian Railway (TAR) project aimed at creating an integrated freight railway network across Europe and Asia.

The project will also receive $512m from the Bangladeshi Government and $1m in technical assistance for procurement.

Angel Trains has ordered 665 new Aventra electric multiple units (EMU) to be run on UK’s East Anglia rail franchise, from Bombardier Transportation.

Scheduled for delivery between January 2019 and September 2020, the new high-performance Aventra series trains are lighter in weight and provide more capacity.

Bombardier has also signed a separate contract worth £83m ($105.6m) to provide ongoing maintenance services support for the new trains.