The European Bank for Reconstruction and Development (EBRD) will provide a new €50 million loan for the Ukrainian capital Kyiv as part of its Vital Infrastructure Support Programme.
The Bank is supporting the expansion of Kyiv’s underground rail network to the residential district of Vynohradar by financing the acquisition of new metro cars. The new metro line promotes clean mass rail transit as the backbone of public transport, and will encourage more people to leave their cars at home and use modern, efficient and environmentally-friendly public transport.
“We are implementing a project to upgrade the rolling stock of the Kyiv metro. With the help of the €50 million EBRD loan, we will be able to buy 50 new metro cars. They will make up 10 metro trains,” said Vitali Klitschko, the mayor of Kyiv.
The new EBRD loan follows similar agreements with 12 Ukrainian cities worth a total of €350 million. Over six million people are now benefiting from better and more comfortable public transport thanks to the introduction of almost 400 new EBRD-financed trolleybuses.
The EBRD is the largest international financial investor in Ukraine. To date, the Bank has made a cumulative commitment of almost €14.5 billion through 486 projects in the country. Last year, it responded to the Covid-19 pandemic in Ukraine with €812 million of financing for the economy.
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