Ukraine, World Bank negotiating $500 m loan for railways modernization

11:17, 11.02.2013 1 min read

Ukraine is holding talks with the World Bank (WB) on raising a loan for the modernization of Ukrainian railways.

According to a prospectus of a eurobond issue by Ukraine, the loan is expected to be up to $500 million.

As reported in May 2012, the then CEO of the State Administration of Railway Transport of Ukraine (Ukrzaliznytsia), Volodymyr Kozak, who is currently the infrastructure minister of Ukraine, said that the administration was going to electrify 300 kilometers of tracks every year using loans from foreign banks, and that it was holding talks on this with the European Bank for Reconstruction and Development and the World Bank.