16:19 Nov. 13, 2016
200-million-euro loan from European Investment Bank will be directed to modernize a public transportation system in 20 Ukrainian cities
The European Investment Bank will grant a EUR 200 million loan to upgrade the infrastructure of public transportation in 20 cities around Ukraine, according to Ukraine's Infrastructure Ministry.
The relevant agreement was signed by Ukraine's Infrastructure Minister Volodymyr Omelyan and Vice-President of the European Investment Bank Vazil Hudak on November 11.
Under the deal, local authorities will be able to launch renewals of tram, trolleybus, metro and bus systems. It will include both transport means and supporting infrastructure.
The cities will also invest money to that end from their local budgets. The overall amount including the European assistance will total EUR 400 million, as Volodymyr Omelyan said.
Ukraine's Infrastructure Minister informed on his Facebook page that for the past decade Ukraine will finally start repairing the Dnipro shipping locks in order to resume the river navigation.