KYIV. Oct 5 (Interfax-Ukraine) – The European Investment Bank (EIB) will open a credit line of EUR200 million to finance investment in urban public transport to 20 municipalities in Ukraine.
According to a bank report on its website, the board made the corresponding decision on September 23 this year.
The EIB notes the project is aimed at increasing the frequency and regularity of public transport in the medium-sized cities of Ukraine. It is expected that the funds will also help reduce harmful emissions by switching to electric transport. This will have a positive effect on the local economy.
The total project cost is estimated at EUR 400 million.
As reported, the European Bank for Reconstruction and Development (EBRD) in October 2015 approved the issue of EUR 100 million to public transport enterprises in Odesa, Chernihiv, Chernivtsi and several other cities in the country under the guarantees of municipalities to improve public transport infrastructure focusing on renovating and improving its efficiency.
