To sign the Financial and Loan Agreements between Ukraine, the European Investment Bank and the European Bank for Reconstruction and Development regarding the joint project “Extension of the Subway Network in Kharkiv” amounting EUR 320 million, the Government of Ukraine has approved the draft orders of the Cabinet of Ministers “On the Loan from the European Investment Bank for the Implementation of the Project “Extension of the Subway Network in Kharkiv”” and “On the Loan from the European Bank for Reconstruction and Development for the Implementation of the Project “Extension of the Subway Network in Kharkiv””.
What’s the benefit?
The approved orders will support positive transformations at the macro- and micro-level by:
- engaging long-term financial resources into the real sector of the economy to foster the economic development of communes;
- developing the transport infrastructure;
- improving the energy efficiency of the transport infrastructure;
- improving the environmental situation;
- improving the quality of passenger transport services;
- increasing tax revenues for the state budget of Ukraine;
- improving the business climate and creating conditions for the intensification of investment activities.
Ukraine started cooperation with the European Investment Bank in 2004 and engages its funding for the implementation of infrastructure, energy, environment protection and other investment projects.