EIB could provide EUR 300 mln to upgrade urban transport in Ukraine

16:01, 10.06.2015 1 min read

The European Investment Bank (EIB) could provide EUR 300 million as part of a program to modernize urban transport in Ukraine, First Deputy Infrastructure Minister of Ukraine Volodymyr Shulmeister has said.

"Today the approximate credit portfolio [under the program] formed by the cities is around EUR 600 million. The Infrastructure Ministry has preliminarily reached an agreement with the EIB that the program will be financed by 50% of the total cost," he said at a seminar devoted to the stable financing and functioning of urban transport in Ukraine, which was held in Kyiv on Wednesday.

Shulmeister also proposed to the seminar participants that co-financing of the program with the World Bank, the European Bank for Reconstruction and Development and KFW should be discussed.