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Volodymyr Kistion: European Investment Bank provides Ukraine with strong support for energy and transport infrastructure reforms
15.09.2017 | 11:31
SERVICE OF VICE PRIME MINISTER OF UKRAINE

The European Investment Bank provides Ukraine with strong support for energy and transport infrastructure reforms, which is highly valued by the Government of the country. Vice Prime Minister of Ukraine Volodymyr Kistion said during a meeting with Vice-President of the European Investment Bank Vazil Hudák.

With the financial assistance of the Bank Ukraine has been implementing 13 projects. Among the most successful ones is the Kharkiv subway project, which is planned to be complemented by the signing of a new agreement in October this year stipulating for the grant worth EUR 160 million for the construction of the Oleksiyivske electric engine house, as well as the purchase of 70 new underground carriages.

Volodymyr Kistion and Vazil Hudák discussed the preparation for the signing of new agreements between Ukraine and the European Investment Bank to finance the modernization of gas extraction in Ukrainian fields, and upgrading of power substations of Ukrainian power supply companies. The deal is scheduled to sign in December this year and is aimed to increase the efficiency of gas extraction at Ukrgazvydobuvannia deposits with a total funding worth EUR 37 million, as well as the modernization of power substations of electrical energy providers with a total funding worth EUR 130 million.

"Our strategic goal is to ensure energy independence by 2020. Hence, the Government of Ukraine is committed to provide maximum assistance in the implementation of this important project", noted during the meeting the Vice Prime Minister.

In November 2017 it is planned to sign an agreement on financing the road safety project in five cities of Ukraine, such as Kyiv, Lviv, Odessa, Dnipro and Kharkiv to the tune of up to EUR 90 million.

"This project is no less important for us, as it relates to improving urban road infrastructure, road intersection infrastructure and renovation of streets, thereby directly affecting the reduction of fatalities and injuries in cities", Volodymyr Kistion emphasized.

In turn, Vazil Hudák pledged readiness of the European Investment Bank to take part in the reform of Ukrzaliznytsia, in particular, in modernizing the rolling stock of the country's major rail carrier.

 

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