IFC grants EUR 12.5 million for development of public transport in Mariupol

2/19/19

IFC has signed a loan agreement granting EUR 12.5 million to buy 64 modern buses for Mariupol. These funds will also be used to overhaul the local bus repair shop, to modernize the repair equipment and to develop the transport management system in the city. The modernized bus fleet of Mariupol will increase the capacity of the local public transport network, help reduce CO2 emission and improve the quality of the transport services for citizens.

“Decentralisation has been one of the key priorities for the Government since 2014, and we have already transferred significant financial resources and responsibilities to the municipalities. That is why, it is crucial for us to receive financial support for this approach from our international partners,” said Yuriy Heletiy, Deputy Minister of Finance responsible for European integration. “Investments of IFC in the infrastructure of Mariupol, which is only 30 km away from the frontline, are the best sign if the trust our partners have for Ukraine. We hope that funding for municipalities will become an important area of activity for IFC. We would highly appreciate the readiness of IFC to become the first international financial organization to provide this funding in the Ukrainian currency, and we, as the Ministry of Finance, are ready to support it.”

IFC is a member of the World Bank Group and one of the leading international investors for the private sector of Ukraine: its total investments in long-term projects in different sectors of the Ukrainian economty are equal to more than USD 3.2 billion.

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