EIB could provide EUR 75 mln for urban road safety in five cities

12:15, 28.08.2017 1 min read

The European Investment Bank (EIB) is mulling the provision of a loan to Ukraine for the financing of infrastructure investments related to urban road safety in five Ukrainian municipalities (Kyiv, Odesa, Lviv, Dnipro and Kharkiv).

According to a posting on the bank's website, the framework loan will finance urban traffic infrastructure with the aim to improve road safety for drivers and, in particular, most vulnerable road users such as pedestrians and cyclists.

"In addition to improved road safety and reduced accidents, the investment has potential to decrease the indirect financial cost arising from poor road safety, and therefore positively impact the local economic development," the bank said.

The amount of financing proposed by the EIB is near EUR 75 million. The total cost of the project is EUR 177 million.