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photo: RAILTARGET Archive/Emergency Support to Ukrainian Railways Receives EUR 200M Boost from EBRD
JSC Ukrzaliznytsia will receive EUR 200 million in funding from the European Bank for Reconstruction and Development (EBRD) as part of the Emergency Support to Ukrainian Railways project. The project will help restore and modernise the railway infrastructure.
The relevant agreements were signed last week by Oleksandr Kubrakov, Vice Prime Minister for Reconstruction of Ukraine and Minister of Community Development, Matteo Patrone, EBRD Director for Eastern Europe and the Caucasus, Yevhen Liashchenko, Chairman of the Board of JSC Ukrzaliznytsia, and Anton Mishin, a member of the Board.
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"Ukrzaliznytsia once again feels the support of a reliable financial partner. It is the second project to finance Ukrzaliznytsia implemented with the EBRD since the beginning of the full-scale invasion. The first project allowed us to maintain the company's stability in a difficult period, and the second will be primarily focused on priority investment projects," said Yevhen Liashchenko.
The repayment period will be up to 15 years, including a grace period of up to 3 years.
The loan proceeds of EUR 100 million will be used to finance capital investments of Ukrainian Railways, including the purchase of materials for the restoration of railway corridors with the European Union and the renewal of rolling stock.
Another EUR 100 million will be used to finance the critical needs of Ukrzaliznytsia to ensure stable and uninterrupted rail freight and passenger traffic.
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In addition, the project will provide grants of up to EUR 10 million to finance investments that will help ensure the inclusiveness of railway stations, including the installation of lifts and ramps, the purchase of communication equipment, energy-efficient lighting, etc.
"We express our sincere gratitude to our strategic partner, the European Bank for Reconstruction and Development, for the opportunity to jointly implement another infrastructure project. Thanks to today's agreement, the volume of our joint projects currently underway is increasing significantly. I am grateful to our international financial partners for this support and the high level of trust in our company," Anton Mishin said.
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Source: JSC Ukrzaliznytsia