The FINANCIAL — The European Investment Bank (EIB) is lending funds to Ukraine’s Ministry of Transport to support the implementation of sustainable transport and to improve the efficiency of existing public transport systems in municipalities across Ukraine.
The project will contribute to the implementation of the National Urban Public Transport programme promoted by the Government of Ukraine. It will involve the modernisation or purchase of trolleybuses, trams and buses, and the refurbishment and construction of public transport infrastructure such as tram lines, bus lanes, stations and depots, according to EU Neighbours East Info.
EIB Vice-President Vazil Hudák commented: “A higher level of customer service and sustainability of public transport in medium to large Ukrainian cities will increase citizens’ quality of life, improve the environment and increase energy savings, leading to higher economic output. I am glad that the EIB can contribute via strategic loans such as this one.”
The investment costs of the schemes to be supported under this loan are expected to total EUR 400 million, of which EIB will co-finance with the European Bank for Reconstruction and Development (EBRD) up to 50%.
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