: Germany to give Ukraine EUR 60 million for upgrading railway locomotives

15:35 Jun. 29, 2016

Germany to give Ukraine EUR 60 million for upgrading railway locomotives

German government-owned development bank KfW. (Getty Images)

German development bank will extend EUR 300 million worth of loan to Ukraine

On July 4, representatives of German government-owned development bank KfW will visit Ukraine to approve the projects they are going to finance.

Read also Germany believes EU-Ukraine cooperation is major European project for next 10 years

The loan, which may be allocated this year, will total EUR 290.67 million, Ukraine's Ministry of Regional Development, Construction, and Communal Living reports.

This is announced by Ukraine's Vice-Prime-Minister for Regional Development, Construction, and Communal Living during the working visit of Ukrainian officials to Germany.

Read also German state-owned company to give Ukraine 5.85 million euros

"A part of these funds can be used for restoring an infrastructure in Donbas (eastern Ukraine). EUR 150 million will be allocated for energy industry projects, EUR 80.67 million - for infrastructure projects, EUR 60 million – for upgrading railway locomotives. A total amount of financing the projects is EUR 290.67 million", the Minister states.

The E.U. plans to allocate EUR 20 million for infrastructure projects in Ukraine by the end of the year.

 

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