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2016-12-06 00:00:00
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Responsible for the public transport infrastructure across Ukraine, the Ministry of Transport is now set to receive a €200 million loan from the European Investment Bank (EIB). With the loan, the country is expected to improve operations in the current systems in twenty different municipalities.
Vazil Hudak, Vice-President of the EIB, has said “A higher level of customer service and sustainability of public transport in medium to large Ukrainian cities will increase citizens’ quality of life, improve the environment and increase energy savings, leading to higher economic output. I am glad that the EIB can contribute via strategic loans such as this one.”
This loan will further contribute to the National Urban Public Transport programme that has been introduced by the government in Ukraine. Currently, the project is looking to introduce new or modernise existing trolleybuses, buses, trams, and more. Furthermore, there will be an improvement to stations, depots, bus lanes, tram lines, and the overall infrastructure of the public transport systems. In all, the twenty investment projects will range in cost between €1-50 million.
Overall, the improvements could cost €400 million with the EIB shouldering half of this burden. In addition to this EIB, the European Bank for Reconstruction and Development (EBRD) will also co-finance the project.
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