EBRD to lend EUR 50 mln to Kyiv subway

New subway cars will be used on the Syretsko-Pecherska line, a new section of which will connect the downtown area with the Vynohradar residential district.

Photo from UNIAN

Photo from UNIAN

Chief Spokesman for Eastern Europe, Caucasus, Central Asia at the European Bank for Reconstruction and Development (EBRD) Anton Usov says the EBRD Board of Directors has approved a EUR 50 million loan for the Kyiv Metro subway to buy rolling stock.

"The EBRD Board has today approved a EUR 50 million loan to the Kyiv Metro for the procurement of metro cars to be used in the extended metro line to Vynohradar," he wrote on Facebook on March 25.

Read alsoHuawei to build 4G network in Kyiv's subway

The project is expected to be signed before the end of the second quarter of 2020, he added.

As UNIAN reported earlier, the EBRD in July 2019 announced plans to lend EUR 50 million to the Kyiv Metro, a municipally owned subway system, for the purchase of 50 cars for the new subway line.

The Kyiv Metro on November 20, 2018, concluded an agreement with PJSC Kyivmetrobud (Kyiv), which won a tender via the ProZorro public e-procurement system to build a subway section that will extend the Syretsko-Pecherska line from the Syrets subway station to the Vynohradar residential area in Kyiv's Podil district.

The estimated budget of the project is UAH 5.993 billion (US$214.3 million). According to the feasibility study, the construction of four stations on the new section of the subway line to Vynohradar was approved: two of them in the first stage of construction and one station in the second and third stages each (the Marshal Grechko and Vynohradar subway stations).

On January 22, Kyivmetrobud CEO Kostiantyn Salii said the completion of the Syretsko-Pecherska line had been postponed for eight months.

As part of the first stage, it was planned to build two stations at the section of almost 4 km long, namely the Mostytska and Prospekt Pravdy subway stations, with further extension of the Syretsko-Pecherska line. It was expected that the construction would last until 2021.

UNIAN memo. The EBRD is a leading institutional investor in Ukraine and to date has committed more than EUR 14.54 billion in over 460 projects to the country.

Related news

Rada adopts bill on banks

The Verkhovna Rada of Ukraine has passed at first reading a bill on the improvement of some control mechanisms in the sphere of banking activities, which is one of two preliminary conditions for the conclusion of an agreement with the Internationa...

Zelensky: IMF assistance is very important to us

Ukrainian President Volodymyr Zelensky has emphasized the importance for Ukraine of assistance from the International Monetary Fund (IMF) and called on MPs to adopt the land and banking laws needed to obtain it.

NABU actions against Bakhmatyuk may lead to disaster for entire Ukraine's agricultural sector – British media.

UK's specialized analytical publication PoultryWorld has published an article on the issues of the Ukrainian egg industry.

1

Ukraine dusts off Soviet-era ventilator designs to help fight coronavirus – Reuters.

Governments around the world are scrambling to procure more of the breathing devices that can blow air and oxygen into the lungs.

Ukrainian legislators fail to pass budget cuts

The curbs have been offered as a result of the coronavirus spread affecting the economy.

By continuing to browse World News (UAZMI), you acknowledge that you have read the Terms of Use and agree to the use of cookies