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Prime Minister: The agreement with the European Investment Bank will allow Ukraine's municipalities to upgrade public transport fleet
11.11.2016 | 11:11

November 11, in the framework of a meeting of Prime Minister of Ukraine Volodymyr Groysman and Vice-President of the European Investment Bank Vazil Hudák there have been inked a financial Agreement (project "Urban public transport in Ukraine") between Ukraine and the EIB. It was signed by Minister of Infrastructure Volodymyr Omelian and Vice-President of the European Investment Bank Vazil Hudák.

The project will contribute to the implementation of the National Urban Public Transport programme promoted by the Government of Ukraine and covers municipal schemes involving the purchase of new or modernisation of existing rolling stock, e.g. trolleybuses, trams and buses, and the rehabilitation and construction of public transport infrastructure such as tram lines, bus lanes, stations and depots.

The project is called to improve the quality of providing public transportation services and to ensure sustainable operation and further development of existing public transport systems.

"The Agreement gives us the opportunity to significantly upgrade public transport, which is very important as regards to providing quality transport services in cities. I think that our citizens are waiting for such changes and today's Agreement will provide a rather powerful impetus to make it happen,” said Volodymyr Groysman. “This project is important for municipalities across Ukraine".

In this regard, the Prime Minister thanked Vice-President of the European Investment Bank Vazil Hudák for the support of the project and willingness to sign it.

The project is aimed to retrofit the fleet of passenger transport in Kyiv, Bila Tserkva, Ivano-Frankivsk, Kremenchuk, Lutsk, Lviv, Odessa, Sumy, Ternopil, Kharkiv and Chernihiv.

The European Investment Bank (EIB) is lending EUR 200million to the Ministry of Transport of Ukraine to support sustainable municipal transport under the state guarantee to the term of up to 22 years with a grace period of up to 5 years. The project will be co-financed by the European Bank for Reconstruction and Development (EBRD), from local budgets and final beneficiaries.

The European Investment Bank plans to finance the project in fifteen tranches within 5 years.

The Government counts upon further constructive collaboration between Ukraine and the European Investment Bank and is committed to join in the preparation of the cooperation program for the following 2-3 years.


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