​Minister of Finance Oleksandr Danyliuk has signed financing and loan agreements between Ukraine and the European Bank for Reconstruction and Development as well as the European Investment Bank

12/11/17

On December 11, Minister of Finance Oleksandr Danyliuk signed, on behalf of Ukraine, agreements with the EBRD and the EIB on the implementation of the project “Extension of the Subway System in Kharkiv”.

The signing ceremony was attended by President of Ukraine Petro Poroshenko, Managing Director of the EBRD in Eastern Europe and the Caucasus Francis Malige and EIB Director for credit operations in Eastern Europe Lionel Rapaille.

What’s it about?

The EIB and EBRD provide loans to Ukraine amounting EUR 160 million each which the Minister of Finance shall transfer to the municipal company “Kharkiv Subway”.
The goal of the project is to improve transport services for the residents of Kharkiv, to extend the Oleksiivska line of the city’s subway system by 3.47 km and to launch two new stations as well as the repair shop for trains “Oleksiivske”.

Signing the agreements, Minister of Finance Oleksandr Danyliuk said: “Improvement of the transport infrastructure is one of the priorities of our Government. This project for the modernization of the subway network in Kharkiv is an important part of the overall urban development plan. The project means new jobs for the residents of the city, it will contribute to the development of the local public transport system and improve the comfort for each resident of Kharkiv”.

What are the benefits?

- development of the transport infrastructure in Kharkiv;
- improvement of the service quality in the public transport system;
- improvement of the ecological situation in Kharkiv;
- now jobs in the local economy and new orders for domestic manufacturers and service providers related to the subway construction;
- implementation of new energy-saving technologies in the public transport system.

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