The European Investment Bank (EIB) may issue about EUR 75 million for the purchase of new trams and related infrastructure in Kharkiv, according to information on the bank's website.

"The project is targeting the renewal of Kharkiv city's tram fleet and the related equipment, with the aim to modernize and increase the effectiveness of the urban electric transport network. The investments financed under the operation will improve the quality and sustainability of public transport service in Kharkiv and will have a positive effect on the local economy. The investment is expected to deliver socio-economic benefits and savings in terms of travel time, vehicle operating costs and road accident costs, as well as have a positive impact on the environment (decrease in local air/noise emissions and greenhouse gas emissions) as a result of the expected shift of passengers from private cars to sustainable public transport modes," the bank said.

The total cost of the project is estimated by the EIB at approximately EUR 100 million.

The EIB will also assess measures for the disposal of decommissioned rolling stock in Ukraine and the storage of hazardous waste.

As reported with reference to Acting Mayor of Kharkiv Ihor Terekhov, in September of this year it is planned to present the first tram car - in fact, a complete analogue of Skoda trams, built within the framework of the Kharkiv tram project.

The project for the production of Kharkiv low-floor trams is being implemented jointly with the city authorities on the basis of the Ecopolis HTZ business park (a long-term investment project of DCH Group of Oleksandr Yaroslavsky), in which Yaroslavsky intends to invest EUR 5.5 million.