The European Investment Bank (EIB) and Kyiv City Council, building on a long-term and successful partnership, signed a new cooperation agreement during the Kyiv Investment Forum 2023 in Brussels on Thursday.

"This agreement provides the city of Kyiv with strategic advisory services for transforming its urban electric transport system and supports the preparation of significant investment to modernize metro rolling stock, thereby ending the current dependence on supply of Russian spare parts and equipment. This new partnership, including both advisory services and preparatory work, will be supported by a EUR 480 000 technical assistance grant from the EIB-managed Eastern Partnership Technical Assistance Trust Fund (EPTATF)," the bank said.

“This partnership with Kyiv, built on years of successful cooperation, reaffirms the EIB’s unwavering commitment to the development of Ukraine and its cities. The EIB’s advisory services and financial support are not just investments in infrastructure, but also pivotal contributions to the recovery and resilience of the country. While with the agreement, signed today, we are focused on assisting Kyiv in building a modern urban public transport system, our overall support also extends to many other municipalities across Ukraine, facilitating their progress towards EU integration and enhancing the quality of life for all during these challenging times,” EIB Vice-President Teresa Czerwińska, who is in charge of the bank’s operations in Ukraine, said.

"Under the agreement, the EIB will provide advisory services to help the city of Kyiv efficiently manage and monitor the EUR100 million urban electric transport project signed in December 2021. These services also include guidance on effective procurement processes that comply with EIB standards. Launched in 2023 amid the ongoing war, the project upgrades trolleybuses and metro fleets, crucial for improving the city’s public transport system. Maintaining and enhancing urban transport infrastructure is especially vital in wartime, as it ensures mobility and aids in the delivery of essential services and supplies, contributing to the resilience and functioning of the city under challenging conditions," the report says.