Kyiv plans to raise EUR150 mln of foreign investment for development of transport and IT

16:06, 31.10.2014 1 min read

Kyiv City State Administration with the assistance of Poland's ZDG TOR consulting group plans to raise EUR150 million of investment from the European Union.

According to the press service of the administration, the parties signed a corresponding agreement in Warsaw (Poland) on October 29. The program is aimed at improving the system of public transport under the "smart and safe city" principle.

It is planned to use the funds raised for the modernization of public transport, transport infrastructure, IT systems, and consulting services. It is planned to upgrade 98% of tram infrastructure, rolling stock, as well as management systems and those for informing passengers.

The program will last five years and could be extended until 2030.

The heads of the transport departments of the Ukrainian and Polish capitals have also signed an agreement on cooperation and exchange of experience.

Western consultants will develop the concept of introducing an integrated ticketing system, as well as the concept of organizing and financing public transport in Kyiv.