Ukrainian government agrees on loan of EUR 152 m from EBRD to build subway in Dnipropetrovsk

The Ukrainian cabinet at a meeting on Monday decided to borrow EUR 152 million from the European Bank for Reconstruction and Development (EBDR) for the expansion of the subway network in Dnipropetrovsk, the government's press service has reported.

It is expected that the loan will allow the length of the subway in the city to be increased from seven kilometers to 11, and to open three new stations along Karl Marx Avenue: Teatralna, Tsentralna and Muzeina.

Dnipropetrovsk City Council agreed the project in late May.

According to information on the EBRD's Web site, the bank's board is to approve the project on June 24, 2012.

As reported, another EUR 152 million will be raised from the European Investment Bank (EIB) and EUR 61 million from the national budget.