Kyiv City Council on Thursday approved a decision to attract a EUR 30 million loan from the European Investment Bank (EIB) to finance a project for overhaul of the capital's outdoor lighting networks until 2024.

According to the press service of the City Council, the project involves replacing the current lighting systems with energy-efficient LED lamps with high luminous efficiency and color rendering index on about 2,000 streets and adjacent territories of Kyiv. Also, about 3,000 street lighting poles will be installed and 525 km of cable networks will be replaced.

The modernization will increase the energy efficiency of street lighting by 50-60%, and will also extend the life of the equipment by 30%, the report says.

"High-quality modern lighting will increase the level of safety, reduce the number of road accidents, increase the service life of the updated networks, as well as improve the ecological state of the city by eliminating the use of gas lamps containing mercury," the press release says.

According to it, more than 40,000 light points in the capital have already been renovated at the expense of the city budget, there are 148,000 of them in total.